LCID
Lucid Group, INC
NASDAQ
8-K: Electric Vehicle Maker Secures Major Robotaxi Order and Strategic Investment
Sentiment:
Strategic Partnership Announcement
17 July 2025 8:38 AM
Lucid Group, Inc. has entered into a significant Vehicle Production Agreement with Uber Technologies, Inc. for 20,000 Lucid Gravity Plus vehicles and secured a $300 million private placement from an Uber subsidiary to fund autonomous vehicle development.
Capital raise
Lucid and SMB Holding Corporation (a subsidiary of Uber) entered into a Subscription Agreement for a private placement.
SMB Holding Corporation agreed to purchase Lucid Class A common stock equal to $300 million in cash.
The purchase price per share is the arithmetic average of the daily volume-weighted average price of Lucid's common stock over 30 consecutive trading days ending prior to the VPA execution.
The private placement is expected to close in Q3 2025, subject to regulatory approvals and customary closing conditions.
Proceeds will fund non-recurring engineering costs for the Lucid Gravity Plus vehicles and general corporate purposes.
SMB Holding Corporation may not transfer the shares for 18 months after closing.
Better than expected
Lucid secured a minimum order of 20,000 vehicles, providing a substantial revenue pipeline.
A $300 million private placement from Uber's subsidiary provides capital and validates the partnership.
The strategic partnership with Uber and Nuro positions Lucid at the forefront of the autonomous robotaxi market.
Summary
- Lucid Group, Inc. and Uber Technologies, Inc. entered into a Vehicle Production Agreement (VPA) on July 16, 2025.
- Uber and its designated fleet operators have committed to purchasing a minimum of 20,000 Lucid Gravity Plus vehicles over a six-year period following the start of production.
- The Lucid Gravity Plus vehicles will be modified to include autonomous driving hardware and other features, with production targeted to begin in late 2026.
- Lucid, Uber, and Nuro, Inc. will collaborate, with Nuro providing the autonomous driving software, to develop and deploy a fleet of autonomous vehicles (robotaxis) on the Uber platform.
- The Minimum Quantity Guarantee is conditioned on Lucid's ability to meet specific volume, quality, and timely fulfillment requirements for the Lucid Gravity Plus vehicles.
- SMB Holding Corporation, a subsidiary of Uber, entered into a Subscription Agreement with Lucid on July 16, 2025, for a private placement.
- SMB Holding Corporation agreed to purchase Lucid Class A common stock equal to $300 million in cash.
- The purchase price per share for the private placement is the arithmetic average of the daily volume-weighted average price of Lucid's common stock over 30 consecutive trading days ending prior to the VPA execution.
- The private placement, involving 137,151,217 shares at a price of $2.1874 per share, is expected to close in the third calendar quarter of 2025, subject to regulatory approvals and customary closing conditions.
- Proceeds from the private placement will be used to fund non-recurring engineering costs, including the design, development, manufacture, and delivery of the Lucid Gravity Plus vehicles, and for general corporate purposes.
- SMB Holding Corporation is restricted from transferring the acquired shares for a period of 18 months after the closing of the Private Placement.
- Uber aims to deploy the Lucid-Nuro robotaxis in dozens of markets around the world, with the first launch anticipated in a major US city next year (2026).
- The robotaxi will leverage the Lucid Gravity's advanced technology platform, redundant electrical and controls architectures, and a 450-mile EPA estimated range to minimize charging downtime and maximize vehicle availability.
- Nuro's Level 4 self-driving system, the Nuro Driver, will enable autonomy, integrating automotive-grade hardware and AI-powered software, and Nuro will lead the development and validation of the comprehensive safety case.
Sentiment
Score: 9
Explanation: The announcement of a large-scale vehicle order, a significant strategic investment from a major industry player (Uber), and a partnership with a leading autonomous driving company (Nuro) is overwhelmingly positive for Lucid, validating its technology and opening a new, high-growth market segment.
Positives
- Secured a minimum order of 20,000 Lucid Gravity Plus vehicles from Uber over a six-year period, providing a substantial future revenue stream.
- Established a strategic partnership with Uber and Nuro for a global robotaxi program, validating Lucid's vehicle architecture as ideal for autonomous applications and ridesharing.
- Received a $300 million cash infusion from Uber's subsidiary via a private placement, providing capital for non-recurring engineering costs and general corporate purposes.
- The targeted start of production for Lucid Gravity Plus in late 2026 provides a clear timeline for market entry into the autonomous vehicle segment.
- Lucid Gravity's 450-mile EPA estimated range is highlighted as a key advantage for robotaxi operations, minimizing charging downtime and maximizing vehicle availability.
- The partnership extends Lucid's innovation and technology leadership into the multi-trillion-dollar autonomous vehicle market.
Negatives
- The Minimum Quantity Guarantee is conditioned on Lucid's ability to meet certain volume, quality, and timely fulfillment requirements, which introduces performance risk.
- Lucid is not responsible for the Level 4 autonomous driving software (Nuro's responsibility) or its integration, limiting Lucid's direct control over the full autonomous functionality.
- Lucid retains the discretion to terminate production of the Base Vehicle (Lucid Gravity), which could impact Gravity Plus production and potentially void the Minimum Quantity Guarantee if Uber has not fulfilled its purchase obligations.
- The document contains redacted confidential information, which may obscure details relevant to a complete assessment of the agreement's terms.
- The private placement shares are priced based on a 30-day volume-weighted average price prior to the VPA execution, which may not reflect the current market value if the stock price has changed significantly since then.
Risks
- Lucid's ability to meet the specified volume, quality, and timely fulfillment requirements for the 20,000 Lucid Gravity Plus vehicles is a condition for the Minimum Quantity Guarantee.
- Delays in achieving the targeted late 2026 start of production for the Gravity Plus vehicles could impact the agreement and revenue recognition.
- Lucid may terminate production of the Base Vehicle (Lucid Gravity), which could lead to the termination of Gravity Plus production and potentially void the Minimum Quantity Guarantee if Uber has not met its purchase obligations.
- Potential interoperability issues between Nuro's Autonomous Driving Software (ADS) and the Gravity Plus vehicle could arise, with responsibility for correction allocated proportionally to fault.
- Capacity constraints, such as shortages in allocated quantities of component parts, could impact the manufacture and delivery of the Gravity Plus vehicles.
- Changes in applicable import laws and commodity pricing could materially affect vehicle prices after a certain period following the start of production.
- Regulatory changes related to motor vehicle safety standards or Level 4 autonomous vehicle operation could impact development, compliance, and costs.
- The private placement is subject to regulatory approvals and customary closing conditions, which could delay or prevent its completion.
- The 18-month transfer restriction on shares acquired by SMB Holding Corporation could impact the liquidity of a significant block of stock once the lock-up expires.
- Forward-looking statements are subject to a number of risks and uncertainties, including those discussed in Lucid's Form 10-Q, and actual results could differ materially from implied outcomes.
Future Outlook
Lucid expects to extend its innovation and technology leadership into the multi-trillion-dollar autonomous vehicle market. Uber aims to deploy 20,000 or more Lucid vehicles equipped with the Nuro Driver over six years, with the first launch in a major US city next year (2026). The Nuro Driver is designed for rapid adaptation to new environments, functions, and vehicle platforms, which is expected to reduce deployment timelines.
Management Comments
- Dara Khosrowshahi, CEO of Uber: "Autonomous vehicles have enormous potential to transform our cities for the better. We're thrilled to partner with Nuro and Lucid on this new robotaxi program, purpose-built just for the Uber platform, to safely bring the magic of autonomous driving to more people across the world."
- Marc Winterhoff, Interim CEO at Lucid: "This investment from Uber further validates Lucid's fully redundant zonal architecture and highly capable platform as ideal for autonomous vehicles, and our industry-leading range and spacious well-appointed interiors, as ideal for ridesharing. This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market."
- Jiajun Zhu, Co-Founder and CEO at Nuro: "Nuro has spent nearly a decade building an AI-first autonomy system that's safe, scalable, and vehicle-agnostic, proven through five years of driverless deployments across multiple U.S. cities and states. By combining our self-driving technology with Lucid's advanced vehicle architecture and Uber's global platform, we're proud to enable a robotaxi service designed to reach millions of people around the world."
Industry Context
This partnership represents a significant move towards integrating high-end electric vehicles with Level 4 autonomous driving technology for large-scale robotaxi deployment. It combines a luxury EV manufacturer (Lucid), an autonomous driving software developer (Nuro), and a global ride-hailing platform (Uber), aiming to create a premium, efficient, and scalable autonomous mobility solution. This collaboration could set a new standard for robotaxi services, differentiating from existing or developing services that might use different vehicle types or autonomy levels. The focus on a 450-mile range addresses a key operational challenge for ride-hailing services by minimizing downtime, potentially offering a competitive advantage.
Comparison to Industry Standards
- The partnership aims to deploy a "next-generation premium global robotaxi program," suggesting a higher-end offering compared to standard ride-hailing or other autonomous vehicle pilot programs.
- Lucid Gravity's "industry-leading range" (450-mile EPA estimated) is highlighted as a key advantage for robotaxi operations, implying better efficiency and less downtime compared to competitors with shorter ranges.
- Nuro Driver's "Level 4 autonomy system" and "proven capability" through "five years of driverless deployments across multiple U.S. cities and states" positions it as a mature and reliable AV technology provider, potentially more advanced than some nascent AV solutions.
- Uber's "vast global network and dynamic fleet management" with "operations in 70 countries and an average of 34 million trips per day" provides a massive scale for deployment, potentially surpassing the reach of smaller, localized robotaxi services.
- The collaboration aims to demonstrate "what's possible when proven AV technology meets real-world scale," suggesting a benchmark for future large-scale AV deployments.
Stakeholder Impact
- Shareholders: Positive impact due to a new, substantial revenue stream, strategic partnership with a major player, and a significant capital infusion, potentially leading to long-term growth in the autonomous vehicle market.
- Employees: Potential for increased research and development, as well as manufacturing activity related to the Gravity Plus, which could lead to job creation or stability.
- Customers (Uber users): Access to a new 'premium' robotaxi service, potentially offering enhanced comfort, safety, and efficiency.
- Suppliers: Increased demand for components and materials for the production of 20,000+ Lucid Gravity Plus vehicles.
- Creditors: Improved financial stability and outlook for Lucid due to the new business agreement and capital raise.
Next Steps
- Lucid, Uber, and Nuro will collaborate to develop and deploy autonomous vehicles for the Uber platform.
- The private placement is expected to close in Q3 2025.
- Targeted start of production for Lucid Gravity Plus vehicles is late 2026.
- Uber aims to launch the robotaxi service in a major US city next year (2026).
- Lucid will file a resale shelf registration statement for the Placement Shares within 120 calendar days following the Closing Date.
- Nuro will lead the development and validation of a comprehensive safety case for the robotaxi.
- The parties will discuss marketing activities, including potential joint marketing, to promote awareness and demand for services using Gravity Plus on the Uber Platform.
Related Party Transactions
- Lucid Group, Inc. entered into a Vehicle Production Agreement with Uber Technologies, Inc.
- Lucid Group, Inc. entered into a Subscription Agreement for a private placement with SMB Holding Corporation, a subsidiary of Uber Technologies, Inc.
Key Dates
- February 16, 2024: Date of the Mutual Non-Disclosure Agreement (NDA) between Uber and Lucid.
- July 16, 2025: Date of earliest event reported; Vehicle Production Agreement (VPA) and Subscription Agreement entered into.
- July 17, 2025: Date of the Press Release announcing the Uber robotaxi program, VPA, and Private Placement; Date of signing of the Form 8-K.
- Q3 2025: Expected closing of the Private Placement.
- Late 2026: Targeted start of production for Lucid Gravity Plus vehicles.
- 18-months after closing of Private Placement: Restriction on transfer of shares acquired by SMB Holding Corporation.
- Six-year period following start of production: Period for Uber and its designated fleet operators to purchase a minimum of 20,000 Lucid Gravity Plus vehicles.
- 120 calendar days following Closing Date: Deadline for Lucid to file a resale shelf registration statement for the Placement Shares.
- 210 calendar days following Closing Date or 270 calendar days after SEC notification: Deadline for the Shelf Registration Statement to become effective.
Keywords
Electric Vehicles, Autonomous Vehicles, Robotaxi, Ride-hailing, EV Production, Strategic Partnership, Private Placement, Lucid Gravity, Nuro Driver, Uber Platform, Automotive Technology, Level 4 Autonomy, SEC Filing, Corporate Finance
LCID
Lucid Group, INC
NASDAQ
Sector: TBD
Filings with Classifications
Capital raise
17 July 2025 8:38 AM
Strategic Partnership Announcement
- Lucid and SMB Holding Corporation (a subsidiary of Uber) entered into a Subscription Agreement for a private placement.
- SMB Holding Corporation agreed to purchase Lucid Class A common stock equal to $300 million in cash.
- The purchase price per share is the arithmetic average of the daily volume-weighted average price of Lucid's common stock over 30 consecutive trading days ending prior to the VPA execution.
- The private placement is expected to close in Q3 2025, subject to regulatory approvals and customary closing conditions.
- Proceeds will fund non-recurring engineering costs for the Lucid Gravity Plus vehicles and general corporate purposes.
- SMB Holding Corporation may not transfer the shares for 18 months after closing.
Better than expected
17 July 2025 8:38 AM
Strategic Partnership Announcement
- Lucid secured a minimum order of 20,000 vehicles, providing a substantial revenue pipeline.
- A $300 million private placement from Uber's subsidiary provides capital and validates the partnership.
- The strategic partnership with Uber and Nuro positions Lucid at the forefront of the autonomous robotaxi market.
Capital raise
6 June 2025 4:07 PM
Annual Meeting Results
- The Amended and Restated 2021 Stock Incentive Plan was approved, increasing the number of shares of Class A common stock available for issuance by 184,000,000 shares. While primarily for compensation, this represents a potential future issuance of equity that could dilute existing shareholders.
Worse than expected
6 May 2025 4:09 PM
Quarterly Report
- The company's net loss, while improved year-over-year, still indicates that the company is not profitable.
- The company's gross margin is still negative, indicating that the company is selling vehicles at a loss.
Worse than expected
6 May 2025 4:08 PM
Earnings Release
- The company reported a GAAP net loss per share of $(0.24) for Q1 2025.
Capital raise
10 April 2025 9:54 PM
Beneficial Ownership Update
- Lucid Group, Inc. priced an offering of $1,100,000,000 aggregate principal amount of 5.00% convertible senior notes due 2030.
- The settlement of the issuance of these notes occurred on April 8, 2025.
- Ayar Third Investment Company entered into a privately negotiated prepaid forward share purchase transaction for $430,000,000.80 in connection with the notes offering, which is intended to facilitate hedging by investors in the notes.
Capital raise
8 April 2025 8:05 PM
Pricing Announcement
- Lucid Group completed a private offering of $1.1 billion in 5.00% Convertible Senior Notes due 2030.
- The notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.
- The initial purchasers had an option to purchase an additional $100 million in notes, which they exercised in full.
- Ayar Third Investment Company entered into a prepaid forward transaction to purchase approximately $430.0 million of Lucid's common stock.
Capital raise
2 April 2025 4:22 PM
Capital Raise Announcement
- Lucid is commencing a private offering of $1,000,000,000 aggregate principal amount of its Convertible Senior Notes due 2030.
- The initial purchasers of the notes will have an option to purchase up to an additional $100,000,000 aggregate principal amount of the notes.
- The notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.
Worse than expected
25 February 2025 4:12 PM
Annual Results
- The company reported a net loss of $2.7 billion for the year ended December 31, 2024.
- The company expects to continue to incur substantial losses and increasing expenses in the foreseeable future.
Capital raise
25 February 2025 4:12 PM
Annual Results
- The company will require additional capital to support business growth, and this capital might not be available on commercially reasonable terms, or at all.
- The company is pursuing additional financing through equity, equity-linked, or debt financing in the future.
Delay expected
25 February 2025 4:12 PM
Annual Results
- The Midsize platform is currently in development, and is scheduled for start of production in late 2026.
Worse than expected
25 February 2025 4:09 PM
Earnings Release
- Lucid reported a GAAP net loss per share of $(1.25) for the full year 2024, indicating continued losses despite increased production and deliveries.
Capital raise
7 November 2024 4:10 PM
Quarterly Report
- Lucid completed a public offering and private placement in October 2024, raising approximately $1.7 billion in gross proceeds.
- The company issued 100,000 shares of Series A Redeemable Convertible Preferred Stock to Ayar for $1.0 billion in March 2024.
- The company issued 75,000 shares of Series B Redeemable Convertible Preferred Stock to Ayar for $750 million in August 2024.
Worse than expected
7 November 2024 4:10 PM
Quarterly Report
- The company's net loss of $992.5 million in Q3 2024 and $2.3 billion for the nine months ended September 30, 2024, is worse than expected, despite a 45% increase in revenue.
Capital raise
7 November 2024 4:07 PM
Quarterly Report
- Lucid completed a capital raise of approximately $1.75 billion in October 2024.
- The capital raise is intended to extend the company's financial runway well into 2026.
- The Public Investment Fund and other institutional investors participated in the capital raise.
Worse than expected
7 November 2024 4:07 PM
Quarterly Report
- The company reported a significant net loss, indicating that it is not yet profitable.
- The cost of revenue is still significantly higher than the revenue, indicating that the company is not yet efficient in its production.
Capital raise
4 November 2024 6:00 AM
SEC Form 4
- Lucid Group completed an underwritten public offering of 262,446,931 shares of its Class A common stock for aggregate gross proceeds of approximately $680 million.
- Ayar Third Investment Company purchased 374,717,927 shares of Issuer Class A common stock in a private placement for an aggregate purchase price of approximately $971 million.
- Ayar purchased from the Issuer an additional 21,470,459 shares of Common Stock for aggregate purchase price of approximately $56 million in a private placement.
Capital raise
18 October 2024 6:09 AM
Capital Raise Announcement
- Lucid Group is raising approximately $1.65 billion through a combination of a public offering and a private placement.
- The private placement with Ayar Third Investment Company will generate approximately $971 million.
- The public offering is expected to generate approximately $680 million.
- Ayar will purchase additional shares to maintain its ownership percentage.
Capital raise
16 October 2024 4:42 PM
Capital Raise Announcement and Preliminary Results
- Lucid is conducting a public offering of 262,446,931 shares of its common stock.
- Ayar Third Investment Company intends to purchase 374,717,927 shares in a private placement concurrently with the public offering.
- The underwriter has a 30-day option to purchase up to 39,367,040 additional shares.
- Ayar intends to purchase additional shares if the underwriter exercises its option to maintain its ownership stake.
Worse than expected
16 October 2024 4:42 PM
Capital Raise Announcement and Preliminary Results
- The estimated loss from operations of $765 million to $790 million is significant and indicates that the company is not yet profitable.
Better than expected
10 September 2024 9:05 AM
Technology and Manufacturing Day Presentation
- Lucid has already delivered more cars in 2024 than in all of 2023, indicating better than expected production and delivery numbers.
Capital raise
19 August 2024 9:04 AM
Private Placement Announcement
- Lucid Group has raised $750 million through the sale of Series B Convertible Preferred Stock to Ayar Third Investment Company.
- The shares were sold in a private placement.
- The company may need to raise additional capital in the future to fund its operations and growth.
Capital raise
5 August 2024 4:10 PM
Quarterly Report
- Lucid issued 100,000 shares of Series A redeemable convertible preferred stock to Ayar for $1.0 billion in gross proceeds.
- The company entered into a $750 million five-year unsecured delayed draw term loan credit facility with Ayar on August 4, 2024.
- Lucid also entered into a subscription agreement with Ayar on August 4, 2024, for the purchase of 75,000 shares of Series B convertible preferred stock for $750 million.
Worse than expected
5 August 2024 4:10 PM
Quarterly Report
- The company's net loss of $643.4 million for the quarter and $1.324 billion for the six months ended June 30, 2024, is worse than expected.
- The company's accumulated deficit of $11.5 billion as of June 30, 2024, is worse than expected.
Worse than expected
5 August 2024 4:08 PM
Quarterly Report
- The company's net loss of $790.251 million and negative free cash flow of $741.302 million indicate worse than expected financial performance.
Capital raise
5 August 2024 4:08 PM
Quarterly Report
- Lucid announced a commitment of $1.5 billion from an affiliate of the Public Investment Fund (PIF).
- This investment is expected to provide sufficient liquidity into at least the fourth quarter of 2025.
Capital raise
5 August 2024 4:07 PM
Capital Raise Announcement
- Lucid Group has secured $750 million through a private placement of Series B Convertible Preferred Stock.
- The company has also entered into a $750 million term loan agreement with Ayar Third Investment Company.
Capital raise
6 June 2024 4:10 PM
Annual Meeting Results
- The approval of the increase in shares available for issuance under the stock incentive plan could be used for future capital raising activities.
Worse than expected
24 May 2024 6:58 AM
Restructuring Announcement
- The company is reducing its workforce and incurring significant restructuring charges, which is generally viewed negatively by investors.
Capital raise
6 May 2024 4:14 PM
Quarterly Report
- Lucid secured a $1 billion investment through the issuance of Redeemable Convertible Preferred Stock to Ayar Third Investment Company.
- The company may need to raise additional funds through equity, equity-linked or debt financings in the future.
Worse than expected
6 May 2024 4:14 PM
Quarterly Report
- Despite increased revenue, the company's net loss remains substantial, indicating that it is not yet on a path to profitability.
Worse than expected
6 May 2024 4:06 PM
Quarterly Report
- The company reported a significant net loss of $680.859 million, which is worse than expected.
- The cost of revenue was significantly higher than the revenue generated, indicating challenges in achieving profitability.
Capital raise
6 May 2024 4:06 PM
Quarterly Report
- Lucid successfully raised $1.0 billion through a private placement to an affiliate of the Public Investment Fund (PIF).
Capital raise
25 April 2024 6:06 AM
Proxy Statement
- Ayar agreed to purchase 100,000 shares of our Series A Convertible Preferred Stock for an aggregate purchase price of $1,000,000,000 in a private placement.
- On March, 29, 2024, we issued the shares of Convertible Preferred Stock pursuant to the March 2024 Subscription Agreement and received aggregate proceeds of $1,000,000,000.
Capital raise
29 March 2024 5:08 PM
8-K Filing
- Lucid Group has raised $1 billion through the sale of Series A Convertible Preferred Stock to Ayar Third Investment Company.
- The capital raise is a private placement, not a public offering.
Capital raise
25 March 2024 8:07 AM
Private Placement Announcement
- Lucid Group is raising $1 billion through a private placement of Series A Convertible Preferred Stock.
- The investor is Ayar Third Investment Company, an affiliate of Saudi Arabia's Public Investment Fund.
- The preferred stock is convertible into common stock, potentially diluting existing shareholders.
- The capital raise is expected to close within 10 business days.
Capital raise
27 February 2024 4:09 PM
Annual Results
- The document mentions that Lucid will require incremental investment to meet AML's demand beyond the committed supply, and AML will decide whether to fund such investment.
- The document also mentions that Lucid may be eligible for a loan pursuant to the Advanced Technology Vehicles Manufacturing Loan Program administered by the U.S. Department of Energy.
Delay expected
27 February 2024 4:09 PM
Annual Results
- The document mentions delays in the acceptance of the Project under the Integration Agreement, which may impact timelines set out in the Supply Agreement.
Worse than expected
27 February 2024 4:09 PM
Annual Results
- The company's net loss of $2.8 billion was worse than expected, indicating ongoing financial challenges.
- The company's revenue decreased slightly in 2023 compared to 2022, which was worse than expected.
- The company's cost of revenue increased significantly in 2023, which was worse than expected.
Capital raise
21 February 2024 4:07 PM
Quarterly Report
- The document mentions that Lucid is reliant on future capital raises and funding strategies.
- The company's negative free cash flow and significant losses suggest that additional capital will be needed to fund operations.
Worse than expected
21 February 2024 4:07 PM
Quarterly Report
- Lucid's net loss of $2.83 billion for the year is significantly worse than the previous year's loss of $1.3 billion.
- The company's negative free cash flow of $3.4 billion for the year is also a significant concern.
- The cost of revenue is significantly higher than the revenue generated, indicating a lack of profitability.
Delay expected
15 February 2024 5:17 PM
Current Report
- The 2024 Annual Meeting is delayed by more than 30 days after the anniversary of the 2023 meeting.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.