Lucid Showcases New Gravity SUV, Teases Affordable Crossover EV
Portfolio Pulse from Erica Kollmann
Lucid Group, Inc. showcased its new Gravity electric SUV and teased an upcoming affordable crossover EV at its Technology & Manufacturing Day. The Gravity SUV will feature a NACS charging connector in 2025 and is set to begin production later this year. Lucid also plans to produce a midsize crossover EV by late 2026, priced under $50,000. Despite these announcements, Lucid shares have declined 10% over the past five days.
September 10, 2024 | 4:41 pm
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Lucid Group showcased its new Gravity SUV and teased a future crossover EV. Despite these product announcements, LCID shares have fallen 10% over the past five days, trading near the 50-day moving average.
The announcement of new products like the Gravity SUV and a future crossover EV is significant for Lucid's growth prospects. However, the recent 10% decline in share price suggests that the market may have already priced in these developments or is reacting to other factors. The stock is trading near its 50-day moving average, indicating a neutral short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100