Lucid (LCID) shares are inching up this morning after the automaker confirmed last week that it has officially entered the autonomous vehicle race, delivering its first electric robotaxi.

Investors are cheering the robotaxi announcement as they believe it could prove a milestone that could reshape the electric vehicle firm’s growth trajectory.

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Lucid stock has been in a sharp uptrend in September, currently up some 50% versus the start of this month.

LCID shares are reacting positively to the robotaxi development today primarily because it signals a strategic expansion into autonomous ride-hailing, an industry projected to reach $2 trillion by 2030.

This diversification could help unlock new revenue streams and reduce reliance on premium EV sales.

Investors view the move as a validation of Lucid Group’s tech stack and manufacturing capabilities, especially as competitors like Tesla (TSLA) and Waymo race toward similar goals.

The robotaxi delivery also positions the electric vehicle manufacturer to benefit from potential fleet partnerships and regulatory tailwinds.

If execution follows, this could be the inflection point that re-rates Lucid shares’ valuation narrative from niche luxury to scalable tech mobility.

Options data from Barchart paints a wide range for LCID shares’ trajectory.

By Dec. 19, traders are currently pricing in a move between $17.42 and $30.32.

In the near term, through the end of this week (Oct. 3), the expected move is 7.4%, with a projected range of $22.59 to $26.19.

This implies elevated volatility as investors digest the implications of Lucid’s autonomous ambitions.

If momentum builds, particularly on the back of strong robotaxi execution, a breakout above $26 could trigger bullish flows through the end of this year. Conversely, failure to scale deliveries may test support near $22.

Despite options data indicating upside potential, investors should tread with caution as Wall Street currently rates Lucid stock at “Hold” only.

According to Barchart, analysts have a mean target about $20 on LCID shares at the time of writing, indicating potential downside of more than 20% from here.

This article was generated with the support of AI and reviewed by an editor. On the date of publication, the editor did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com