The first Nasdaq bell for Lucid Motors. Yesterday at the opening of the stock markets on Wall Street, the competitor of Tesla, also Californian, officially merged with Churchill Capital Corp IV ($ CCIV), a blank check company with which he had decided to enter on the stock exchange in the form of a SPAC.

Lucid Motors went public and climbed 10.4% to $ 26.7 per share. Previously, CCIV stock had experienced a strong period of speculation in February (up to $ 58), when it confirmed the upcoming merger with the electric car maker. The bubble has since exploded and trading was concentrated around $ 20.

The company’s current capitalization is $ 6.27 billion according to data from MarketWatch. A “risky” investment, commented Matthew Kennedy, senior strategist at Renaissance Capital, which offers an IPO ETF. For him, “A company with no income and with such a large market capitalization” is dangerous.

A few minutes before the start of the exchanges, the boss of Lucid Peter Rawlinson held a speech to speak about the situation of the manufacturer, and to confirm the holding of the calendar of marketing. “We are still in the race to market the Lucid Air this year” he said, something to reassure on the question of the company’s income.

However, Lucid Motors will need to gain strong confidence from its investors to go through this new phase. The company will be expected at turning points in its sales and will therefore have to provide sufficient production capacity. A point also addressed by the CEO in New York on Monday.

In its schedule, Lucid Motors has a second model planned, which will be launched next year. It will be an SUV, much like Tesla did with the Model X. Then a compact and cheaper model will arrive once production capacities are higher. Once again, it reminds Tesla with the Model 3. Everything remains to be done so as not to sink like Nikola Motors.