What's Going On With EV Maker Lucid Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Lucid Group, Inc. (NASDAQ:LCID) announced the opening of customer orders for its new SUV, the Lucid Gravity, on November 7. The Grand Touring trim will start at $94,900, with production beginning in late 2024. Despite the new product launch, LCID stock has lost over 38% in the past year. Investors can also gain exposure through ETFs like VanEck Green Infrastructure ETF (NASDAQ:RNEW) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN).
October 29, 2024 | 3:49 pm
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POSITIVE IMPACT
Lucid Group is launching the Lucid Gravity SUV, with orders opening on November 7. Despite this, LCID stock has declined over 38% in the past year, and shares are currently trading lower.
The launch of the Lucid Gravity SUV is a significant product development for Lucid Group, potentially boosting investor interest and sales. However, the stock has been underperforming, which may temper immediate positive impacts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) offers exposure to Lucid Group, which is launching a new SUV. This could positively impact the ETF if Lucid's new product performs well.
QCLN includes Lucid Group in its holdings. The launch of Lucid Gravity could enhance Lucid's market position, potentially benefiting QCLN if the product succeeds.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
VanEck Green Infrastructure ETF (RNEW) includes Lucid Group, which is launching a new SUV. Success of Lucid Gravity could positively influence the ETF's performance.
RNEW holds Lucid Group shares. The introduction of the Lucid Gravity SUV could improve Lucid's market performance, potentially benefiting RNEW if the launch is successful.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50