Connect with us

Energy & Critical Metals

Iceland launches the world’s largest carbon capture and storage plant

Icelandic carbon capture company, Climeworks, has officially launched Orca, the world’s largest direct air capture and storage plant that permanently…

Share this article:

Published

on

This article was originally published by Power Engineering International

Icelandic carbon capture company, Climeworks, has officially launched Orca, the world’s largest direct air capture and storage plant that permanently removes CO₂ from the air.

Through the development of Orca, Climeworks has been able to intensify the process of CO₂ capture capacity per module. This optimized process means that more carbon dioxide can be captured and stored than ever before.

Orca has a capacity to capture 4’000 tons of CO₂ per year, which will be removed from the air and stored permanently through a natural mineralization process.

Iceland’s Prime Minister Katrín Jakobsdóttir said at the launch: “For the first time the direct air capture technology is combined with the carbon storage technology – for a project of this scale – allowing us to permanently capture CO₂ already emitted to the atmosphere and safely and rapidly turn it into stone underground.”

The construction of Orca started in May 2020 and is based on advanced modular technology in the form of stackable container-size collector units.

These units are powerful and compact with a minimal physical footprint, making it possible for Orca to be operational in under 15 months.

Orca plant. Credit: Climeworks

Orca has partnered with Carbfix, Islandic experts in rapid underground mineralization. Carbfix will mix the air-captured CO₂ with water and pump it deep underground, where it is trapped in stone through a natural mineralization process that takes less than two years.

Orca runs fully on renewable energy and has been strategically located adjacent to ON Power’s Hellisheiði Geothermal Power Plant.

Christoph Gebald, co-CEO and co-founder of Climeworks

Christoph Gebald, co-CEO and co-founder of Climeworks said: “We are proud, excited, and beyond delighted to have arrived at this stage in our journey to reverse climate change. Orca is now a reality and it is a result of concerted efforts from every stakeholder involved. I want to take this opportunity to convey my gratitude and appreciation to the Government of Iceland, our partners in Iceland, our trusted investors, our corporate clients and pioneers, partners, the media, and our team of Climeworkers in making Orca a reality.’’

According to Climeworks, the plant will eventually expand to megaton removal capacity by the second part of this decade.

Visit Orca in 3D

The post Iceland launches the world’s largest carbon capture and storage plant appeared first on Power Engineering International.

Energy & Critical Metals

Ilustrato Pictures International Inc (OTCMKTS: ILUS) Continues Higher with Power as M&A Investment Player Inks New Acquisitions

Ilustrato Pictures International Inc (OTCMKTS: ILUS) continues higher with power in recent days emerging as among the top most traded stocks in small…

Share this article:

Ilustrato Pictures International Inc (OTCMKTS: ILUS) continues higher with power in recent days emerging as among the top most traded stocks in small caps regularly topping $25 million per day in dollar volume and rocketing up from the subs to recent highs over $.45 and becoming one of the most successful RMs of 2021. Microcapdaily first covered ILUS back in August when the stock was $0.05 right after the Company released its second quarter of 2021 results, stating at the time: “The company achieved revenue of $ 2.86 million in the second quarter of 2021. This represents a 462% increase on the first quarter revenue of $ 509k. In addition to increased revenue, ILUS reports that its second quarter gross profit is up 375% to $ 992k compared to the first quarter gross profit of $ 209k. In addition to its increased revenue and profit, ILUS reports that it has strengthened its balance sheet with assets increasing to just under $24.5 million and cash in the bank has also increased.” 

ILUS modus operandi has been to continually prioritize profitable growth and cash liquidity in order to allow it to execute the deals on its radar. The company has already completed 3 acquisitions in 2021 and is currently in the process of completing multiple acquisitions in the US and Europe. In a recent interview ILUS Managing Director John-Paul Backwell confirmed that ILUS is currently working on more than 20 initiatives. As part of the initiatives, the company currently has 10 acquisitions in its pipeline within the US, Europe, and the Middle East. These potential acquisitions are at various stages of exploration and due diligence, which has led to a strong deal flow. 

Ilustrato Pictures International Inc (OTCMKTS: ILUS) is a public M&A Investment company operating out of New York, London, and Dubai focused on adding shareholder value through innovation and growth. ILUS International’s vision has evolved in line with the needs of the technology and manufacturing sectors it has been involved in.  We focus primarily on innovative emergency services, life safety and related technologies such as emergency response vehicles, electric utility vehicles, specialist vehicle conversions, disruptive firefighting equipment, wearable technology and related software solutions. With a proven record of acquiring carefully selected businesses that are appropriate to our vision, ILUS aims to complete further acquisitions of companies which possess innovative and disruptive technology and already achieve annual revenue of $1-10 million.  

ILUS has been busy in 2021; for the last six months, ILUS has been working on the acquisition of a large-scale manufacturing facility. ILUS Managing Director, John-Paul Backwell, announced in a recent presentation that the company is now in the final stages of completing the acquisition of the manufacturing plant. ILUS can now confirm that this is a huge partial privatization deal which is being completed in partnership with the government of the country. Linked to the manufacturing plant acquisition, ILUS is negotiating a very significant government contract for the manufacture of a new range firefighting vehicles which meet Euro 6 exhaust gas emissions standards over a period of 5 years. The acquisition of the manufacturing plant and the linked manufacturing contract involves complex political contracts and legal advice which is currently what the ILUS team is working through. In addition to government contracts, the huge manufacturing facility which employs many staff will also be used for the large-scale manufacture of ILUS firefighting equipment and vehicles and ILUS’ range of commercial electric utility vehicles, for distribution globally.  

The Company also recently confirmed it is also currently working on more than 10 new partnerships and projects. Some of the partnerships are as follows: 

  • Milanion autonomous firefighting vehicle partnership where the vehicle development is ongoing, and a prototype is being tested. 
  • Takeleap Virtual Reality training platform where the software development for Fire Extinguisher Training and CPR training is complete and as a first step towards sales, BCD Fire has recently hired a new salesperson to promote and sell this technology in Dubai. 
  • The firefighting drone partnership, whereby the large firefighting drone has the capacity to carry up to 1 ton of weight. This technology is currently undergoing proof of concept testing in Europe. 
  • Reconnaissance drones for firefighting situational awareness and asset maintenance surveillance. ILUS is currently exploring two potential partnerships for this technology. 
  • Partnership on a US developed intelligent emergency response communication platform with connected building technology, which enables first responders to arrive on scene quicker and operate more efficiently on arrival. 

 

To Find out the inside Scoop on ILUS Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

ILUS

Some of the projects include: 

  • The development of a comprehensive E-Raptor range of all-electric commercial utility vehicles (UTV’s) to complement the existing E-Raptor 6×6 UTV which is the world’s first and only 6-wheeled electric UTV. The range will include an electric 4×4 UTV in flatbed and dump-bed format and a 4-seater road legal commercial passenger vehicle for event safety and last mile transportation. 
  • The testing and certification of ILUS’ fixed water mist systems for kitchen fires and battery fires. ILUS is already in discussions with large companies utilizing battery powered technology for the deployment of its unique water mist firefighting technology to rapidly suppress and extinguish battery compartment fires in passenger vehicles, public transportation, and energy storage facilities. 
  • Obtaining of the A license for ILUS acquisition, BCD Fire, which will enable the company to install and maintain fire systems in multiple buildings simultaneously, with no restriction on the number of floors per building in the United Arab Emirates (UAE). Under current licensing, BCD Fire can only install these systems in certain buildings through a sub-contractor and despite this, it has already been awarded large contracts since being acquired by ILUS, including the contract for the world’s tallest office tower, Burj 2020. With the A license in place, BCD Fire will be one of only a handful of companies in the UAE which can perform installation and maintenance of fire systems in all buildings, regardless of size and complexity. 
  • The research, testing, and procurement of a comprehensive range of wildland firefighting equipment and turnout gear to be on sale in the US this year, through an upcoming US acquisition. 
  • The ILUS research, development and manufacturing facility in Dubai is in the process of completing its ISO9001 Quality Assurance Certification. 
  • The research and development of wearable technology for firefighters which will integrate the backbone of existing virtual reality technology and monitoring sensors to provide firefighters with on-scene monitoring capability including incident command communications, heat stress monitoring, oxygen level monitoring, chemical and particulate monitoring, ECG technology to monitor for cardiac events, navigation guidance etc. 

On September 28 ILUS announced it has officially agreed to terms for the purchase of a profitable US-based firefighting equipment distributor, which holds multiple exclusive distribution contracts for the sales and servicing of some of the world’s largest firefighting equipment brands, and has a current annual turnover of $3 million.  

During the 3rdquarter of 2021, ILUS has been working on the completion of 4 acquisitions in the United States, alongside that of additional acquisition targets in Europe and the Middle East. Whilst the US and European acquisitions remain close to completion, ILUS determined that it was a priority to enter the US market by acquiring an established distribution model for its existing products, combined with the existing distribution of industry leading fire and rescue products which are already in widespread use and in high demand across the US. With this strategy being the priority, ILUS focused on the completion of the distribution acquisition first in its line of upcoming acquisitions.  

ILUS is officially entering the US market by acquiring a leading US distributor of firefighting equipment as well as equipment for police and EMS personnel. The acquisition is a well-known industry name and has been operating for nearly 20 years. It holds numerous exclusive distribution contracts for its local state and neighbouring states as well as several nationwide distribution contracts. The company has exclusive distribution contracts in place for the world’s largest hydraulic rescue equipment brand, one of the world’s largest brands of rescue tools and rescue support equipment and for a global leader in turnout gear.  

In addition to its 6,000 square foot distribution warehouse, the company also has an equipment servicing division, 4 fully equipped demonstration vehicles and 2 mobile trailers. Immediate plans for the acquisition by ILUS include a new distribution warehouse which will be in the region of 15,000 square feet and include a larger showroom and vehicle yard. 

John-Paul Backwell, Managing Director at ILUS had the following to say about the acquisition: “The number one driving force behind all we do at ILUS is to deliver innovative technology which protects more communities and saves more lives. We are already doing this with our firefighting technology which we have now acquired a successful US distribution channel for, and we have also wanted to expand into the rescue technology sector. We know this will give us the ability to improve existing rescue equipment technology and therefore play a leading role in preventing fatalities from road accidents and other tragic events or disasters, which we know are a constant and growing threat to life globally. We all know of families broken apart through road accident deaths or similar tragedies. I believe that ILUS has a huge role to play in improving the technology available to first responders and their ability to respond quicker to incidents where a matter of minutes or even seconds can dramatically alter the outcome for victims and their families.  

 

For More on ILUS Subscribe Right Now!

Ilustrato Pictures International Inc (OTCMKTS: ILUS) continues higher with power in recent days emerging as among the top most traded stocks in small caps regularly topping $25 million per day in dollar volume and rocketing up from the subs to recent highs over $.45 and becoming one of the most successful RMs of 2021. Microcapdaily first covered ILUS back in August when the stock was $0.05 right after the Company released its second quarter of 2021 results, stating at the time: “The company achieved revenue of $ 2.86 million in the second quarter of 2021. This represents a 462% increase on the first quarter revenue of $ 509k. In addition to increased revenue, ILUS reports that its second quarter gross profit is up 375% to $ 992k compared to the first quarter gross profit of $ 209k. In addition to its increased revenue and profit, ILUS reports that it has strengthened its balance sheet with assets increasing to just under $24.5 million and cash in the bank has also increased.”  ILUS modus operandi has been to continually prioritize profitable growth and cash liquidity in order to allow it to execute the deals on its radar. The company has already completed 3 acquisitions in 2021 and is currently in the process of completing multiple acquisitions in the US and Europe. In a recent interview ILUS Managing Director John-Paul Backwell confirmed that ILUS is currently working on more than 20 initiatives. As part of the initiatives, the company currently has 10 acquisitions in its pipeline within the US, Europe, and the Middle East. These potential acquisitions are at various stages of exploration and due diligence, which has led to a strong deal flow. We will be updating on ILUS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ILUS.

[ninja-inline id=4669]

Disclosure: we hold no position in ILUS either long or short and we have not been compensated for this article.

Continue Reading

Energy & Critical Metals

JPM: 7 ESG Essentials Investors Need to Know

Want to invest in ESG, but not sure where to start? Begin with these 7 ESG essentials every investor should know.
The post 7 ESG Essentials Investors Need…

Share this article:

The following content is sponsored by J.P. Morgan Asset Management.

 

ESG Essentials Investors Need to Know

7 ESG Essentials Investors Need to Know

From consumers to policy makers, many economic actors are backing sustainability—and creating a powerful portfolio opportunity for investors.

The use of environmental, social, and governance factors (altogether known as ESG) is increasingly informing investment decisions. But although ESG investing has grown in prominence in a few short years, there’s a disconnect:

  • 69% of retail investors are interested in ESG, yet…
  • Only 10% actually invest in products that incorporate ESG factors

To properly capitalize on this trend, it’s important to first fully understand it.

According to J.P. Morgan Asset Management, here are seven essentials that can help investors understand the growing importance of ESG investing.

1. ESG considerations are affecting consumer preferences and attitudes.

The public is paying attention to how companies position themselves, to ensure their purchases will be sustainable.

In a survey, respondents around the world were asked whether they agree with the question, “I buy from companies that are conscious of protecting the environment.”

Here are the trends that emerged:

Country Agree Disagree
China 71% 3%
Indonesia 61% 3%
Singapore 52% 9%
U.S. 51% 15%
Korea 48% 17%
Germany 47% 11%
Australia 47% 15%
Japan 33% 22%
Hong Kong 31% 17%

Source: J.P. Morgan Asset Management; PwC June 2021 Global consumer insights pulse survey. Data as of June 30, 2021.

Across markets, consumers in China seem to be the most environmentally inclined, but all countries surveyed exhibited a positive shift towards companies that support environmental protection.

Why it matters: Consumers are making decisions based on ESG considerations, and they’re voting with their wallets. This change has ripple effects, and is shifting from individuals to impacting higher levels, such as governments.

2. Policymakers are setting environmental and social goals.

Governments of the world’s top greenhouse gas (GHG) emitters are working towards a net zero future, in which GHG emissions are reduced or offset.

What is the current trajectory of GHG emissions (measured in tonnes per year of CO₂ equivalents, tCO₂e) and what is the gap we need to bridge in the race to net zero?

Year EU (tCO₂e) U.S. (tCO₂e) China (tCO₂e)
1990 5.7B 6.4B 3.3B
2000 5.2B 7.3B 5.1B
2010 4.8B 7.0B 10.9B
2020 3.7B 5.9B 13.0B
2030P 3.3B 5.9B 13.8B
2040P 1.6B 3.0B 9.2B
2050P 0B 0B 4.6B
2060P 0B 0B 0B

Source: J.P. Morgan Asset Management; Climate Action Tracker. Data as of June 30, 2021.

Why it matters: Altogether, around 60 countries—representing over half of global GHG emissions—have set ambitious net zero emissions targets for the coming decades.

3. For some, the shift to sustainability may be a headwind.

Traditional energy needs to account for a much smaller proportion of the global energy mix, if we are to achieve the goal of net zero emissions by 2050.

Here’s what each energy source needs to contribute in terms of their share (%) of the primary energy mix, compared to past trends:

Year Oil Coal Gas Renewables Nuclear
and Hydro
1970 46.9% 30.0% 16.9% 0.2% 6.1%
1980 45.8% 26.9% 18.3% 0.2% 8.7%
1990 39.7% 27.2% 20.5% 0.5% 12.2%
2000 39.2% 25.0% 21.9% 0.7% 13.3%
2010 34.2% 29.9% 22.5% 1.9% 11.5%
2030P 26.9% 17.0% 22.2% 20.9% 12.9%
2040P 15.4% 5.5% 15.9% 47.5% 15.7%
2050P 6.8% 1.9% 13.0% 59.2% 19.0%

Source: J.P. Morgan Asset Management; BP Energy Outlook 2020. Forecast is based on BP’s scenario for global net zero emissions by 2050. Data as of June 30, 2021.

Why it matters: The shift to renewable energy may pose a challenge for industries reliant on fossil fuels. Fortunately, it’s not too late for companies to transition.

4. ESG creates opportunities for those at the forefront of change.

Looking at the movement of global investment, billions of dollars are flowing into the energy transition.

Year Renewable energy Storage, electrification,
carbon capture, other
Total Amount
2004 $33B $0B $33B
2008 $157B $25B $182B
2012 $239B $24B $263B
2016 $277B $101B $378B
2020 $304B $197B $501B

Source: J.P. Morgan Asset Management; Bloomberg NEF, BP Statistical, Eurostat, Lazard, METI. Storage, electrification, other includes hydrogen, carbon capture and storage, energy storage, electrified transport and electrified heat. Data as of June 30, 2021.

Why it matters: With interest expanding quickly, this provides a unique opportunity to tap into the nascent ESG market.

5. ESG covers more than climate—Social and Governance is growing too.

As the name suggests, ESG is all-encompassing, with a scope that goes far beyond the environment.

MSCI analyzed the corporate mentions of diversity and inclusion in earnings calls (four-quarter moving average for MSCI ACWI companies)—and found that they have almost doubled in the past two years.

Why it matters: This signals rising interest in the varied criteria that make up ESG investing.

6. ESG is affecting the investment landscape.

The demand for sustainable fixed income strategies is also growing rapidly, with global sustainable bond issuance growing over 25x between 2016-2020:

Type of Bond Issuance 2012 2016 2020
Green $4B $84B $291B
Sustainable $1B $7B $176B
Social $1B $3B $237B

Source: J.P. Morgan Asset Management; Climate Bonds Initiative. Data as of 30 June 2021.

Why it matters: Growth and demand is high, and sustainable investing is not limited to equities—environmental and social projects have increasing access to financing.

7. ESG is changing the nature of investment flows.

Looking at the big picture, here’s what proportion of each country’s assets into sustainable strategies has evolved around the world:

Region/ Country 2016 2017 2018 2019 2020
EU 5% 8% 18% 27% 48%
U.S. 1% 0% 1% 4% 22%
APAC -1% -1% 0% 2% 6%

J.P. Morgan Asset Management, Morningstar. Data as of 30 June 2021.

Why it matters: Although certain regions are leading the way, overall demand for sustainable funds is expected to continue on this upward trend.

As these seven ESG essentials make clear, sustainable investing is becoming a compelling vehicle for change worldwide. But incorporating ESG criteria into investing is as much about doing well financially, as it is about doing good.

Find out more at J.P. Morgan Asset Management’s dedicated sustainable investing hub.

IMPORTANT DISCLAIMER
For the purposes of MiFID II, the JPM Market Insights and Portfolio Insights programs are marketing communications and are not in scope for any MiFID II / MiFIR requirements specifically related to investment research. Furthermore, the J.P. Morgan Asset Management Market Insights and Portfolio Insights programs, as non-independent research, have not been prepared in accordance with legal requirements designed to promote the independence of investment research, nor are they subject to any prohibition on dealing ahead of the dissemination of investment research. This document is a general communication being provided for informational purposes only. It is educational in nature and not designed to be taken as advice or a recommendation for any specific investment product, strategy, plan feature or other purpose in any jurisdiction, nor is it a commitment from J.P. Morgan Asset Management or any of its subsidiaries to participate in any of the transactions mentioned herein. Any examples used are generic, hypothetical and for illustration purposes only. This material does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or products. In addition, users should make an independent assessment of the legal, regulatory, tax, credit, and accounting implications and determine, together with their own financial professional, if any investment mentioned herein is believed to be appropriate to their personal goals. Investors should ensure that they obtain all available relevant information before making any investment. Any forecasts, figures, opinions or investment techniques and strategies set out are for information purposes only, based on certain assumptions and current market conditions and are subject to change without prior notice. All information presented herein is considered to be accurate at the time of production, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Both past performance and yields are not reliable indicators of current and future results. J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our privacy policies at https://am.jpmorgan.com/global/privacy. This communication is issued by the following entities: In the United States, by J.P. Morgan Investment Management Inc. or J.P. Morgan Alternative Asset Management, Inc., both regulated by the Securities and Exchange Commission; in Latin America, for intended recipients’ use only, by local J.P. Morgan entities, as the case may be.; in Canada, for institutional clients’ use only, by JPMorgan Asset Management (Canada) Inc., which is a registered Portfolio Manager and Exempt Market Dealer in all Canadian provinces and territories except the Yukon and is also registered as an Investment Fund Manager in British Columbia, Ontario, Quebec and Newfoundland and Labrador. In the United Kingdom, by JPMorgan Asset Management (UK) Limited, which is authorized and regulated by the Financial Conduct Authority; in other European jurisdictions, by JPMorgan Asset Management (Europe) S.à r.l. In Asia Pacific (“APAC”), by the following issuing entities and in the respective jurisdictions in which they are primarily regulated: JPMorgan Asset Management (Asia Pacific) Limited, or JPMorgan Funds (Asia) Limited, or JPMorgan Asset Management Real Assets (Asia) Limited, each of which is regulated by the Securities and Futures Commission of Hong Kong; JPMorgan Asset Management (Singapore) Limited (Co. Reg. No. 197601586K), which this advertisement or publication has not been reviewed by the Monetary Authority of Singapore; JPMorgan Asset Management (Taiwan) Limited; JPMorgan Asset Management (Japan) Limited, which is a member of the Investment Trusts Association, Japan, the Japan Investment Advisers Association, Type II Financial Instruments Firms Association and the Japan Securities Dealers Association and is regulated by the Financial Services Agency (registration number “Kanto Local Finance Bureau (Financial Instruments Firm) No. 330”); in Australia, to wholesale clients only as defined in section 761A and 761G of the Corporations Act 2001 (Commonwealth), by JPMorgan Asset Management (Australia) Limited (ABN 55143832080) (AFSL 376919). For all other markets in APAC, to intended recipients only.
Our manager seeks to integrate environmental, social and governance (“ESG”) factors in the investment processes. ESG integration is the systematic integration of material ESG factors in company/issuer selection through research and risk management. It involves proprietary research on financial materiality of the ESG factors in relation to the relevant company/issuer and discretion to invest regardless of whether the company/issuer may be positively or negatively impacted by the ESG factors. Integration of ESG factors in investment processes does not imply the funds or strategies incorporate ESG factors as a key investment focus.
For U.S. only: If you are a person with a disability and need additional support in viewing the material, please call us at 1-800-343-1113 for assistance. Copyright 2021 JPMorgan Chase & Co. All rights reserved.

The post 7 ESG Essentials Investors Need to Know appeared first on Visual Capitalist.

Continue Reading

Energy & Critical Metals

LCID Stock Dips Tuesday Despite ‘Electric’ Lucid Event Update

It’s been a month of catalysts for Lucid Motors (NASDAQ:LCID) and this week brings yet another. The road leading here has brought many ups and downs…

Share this article:

It’s been a month of catalysts for Lucid Motors (NASDAQ:LCID) and this week brings yet another. The road leading here has brought many ups and downs for shareholders as LCID stock has reacted to market uncertainty and lockup expirations. But as of yesterday, Lucid’s story centered around unveiling its futuristic innovations.

Source: gg5795 / Shutterstock.com

Members of financial, policymaking and media communities are finally going to be getting a look at what’s behind the factory walls. It doesn’t stop there, though. They’ll also be able to test drive the Lucid Air, an electric vehicle that has captured the attention of many electric vehicle enthusiasts.

What’s Happening With LCID Stock

Despite some noticeable gains yesterday, LCID stock has been down since markets opened today. As of this writing, it has declined by more than 5%, shooting down this morning and then falling further despite some slight upticks.

Despite the less-than-ideal start to trading today, September has been a pretty good month for Lucid, with LCID stock staying mostly in the green. The month has seen some important deadlines but generally speaking, the stock has reacted well and is up 19.10% for the period.

Why It Matters

While it is early in the day, these types of patterns can be expected when a company nears such an important event. A week-long event can leave plenty of time for the type of uncertainty that can send a stock down, but that doesn’t mean that it can’t go back up. Lucid’s Production Week hasn’t received too much coverage yet but we’ll be seeing that change as this week unfolds.

Additionally, one of Lucid’s competitors has just announced plans to go public by way of a SPAC merger, just as Lucid did. Polestar has already released two EV models but it doesn’t have Lucid’s digital following or meme stock status. While its debut is certainly interesting for EV investors, as of now, Polestar does not present an imminent threat.

What’s Next for LCID Stock

We’re still watching the Production Week take shape but there’s no reason for investors not to be optimistic as it does. Lucid has always had plenty of upside and now the world is about to see just how much.

InvestorPlace analyst Luke Lango recently discussed LCID stock, comparing it to that of industry giant Tesla (NASDAQ:TSLA).

In his words, the company “has a unique opportunity to be a Tesla-like investment. And as such, long-term believers should be inclined to hold this stock through all ups and downs over the next few years. In the end, we suspect these patient shareholders will be up massively on their initial investment.”

The EV market is booming, and Lucid is poised to take off as a key part of it. Investors would be wise to pay attention.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

The post LCID Stock Dips Tuesday Despite ‘Electric’ Lucid Event Update appeared first on InvestorPlace.

Continue Reading

Trending