Streetbeat News

LCID

Lucid Group, Inc.

https://www.lucidmotors.com

Industry

Auto - Manufacturers

Lucid Group, Inc. a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc. was founded in 2007 and is headquartered in Newark, California.

Open

2.06

Mkt cap

6.1B

Volume

99M

High

2.06

P/E Ratio

-1.51

52-wk high

5.31

Low

1.93

Div yield

N/A

52-wk low

1.93

This week, Tesla faced challenges in China, Ford planned a reentry into India's EV market, and Canoo aimed to improve profitability. Tesla's production cut in China and SEC probe concerns, along with Ford's strategy to leverage India's new EV policy, and Canoo's designation as a Foreign Trade Zone were key events. Fisker sought financing to avoid bankruptcy, and BYD expanded into Greece. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader EV stock underperformance despite Tesla's slight gain.

Portfolio Pulse from Shanthi Rexaline

March 23, 2024 | 1:12 pm

President Joe Biden approved new EPA emissions standards requiring two-thirds of new vehicles to be EVs by 2032. General Motors (GM) and Stellantis (STLA) expressed support, aligning with their EV goals. The UAW union emphasized job protection during the transition. EV makers like Lucid Group (LCID) and Tesla (TSLA), through a fan's tweet endorsed by Elon Musk, showed enthusiasm for the new rule, highlighting the affordability of Tesla models with federal tax credits.

Portfolio Pulse from Neil Dennis

March 22, 2024 | 6:45 pm

Mixed sentiment in the EV sector was influenced by Tesla's lowered delivery estimates and broader market concerns. Tesla faces challenges but sees opportunities in India with new EV policies. Fisker's bankruptcy rumors caused a significant stock drop. Rivian received a positive upgrade from Piper Sandler. Polestar announced a price cut for its upcoming SUV. The KraneShares Electric Vehicles ETF saw a slight increase.

Portfolio Pulse from Shanthi Rexaline

March 16, 2024 | 2:42 pm

Benzinga's weekly review highlights significant movements and sentiments in the stock and cryptocurrency markets, with a focus on Nvidia, Tesla, Meta, and the broader semiconductor sector. Inflation concerns and Federal Reserve's interest rate decisions have created market uncertainty. A DEA rumor boosted cannabis stocks, while significant investments in AI and robotics, along with Elon Musk's comments on Dogecoin, influenced investor sentiment. Disputes and criticisms involving Lucid, Meta, and cryptocurrency valuations also shaped the week's bearish outlooks.

Portfolio Pulse from Michael Cohen

March 16, 2024 | 1:24 pm

Lucid Group Inc (LCID) is in a trademark dispute with Gravity Technologies, backed by Alphabet Inc (GOOG, GOOGL), over the name of its Gravity SUV. Gravity Technologies, which operates EV charging stations and previously ran an electric taxi fleet, filed a petition for cancellation against Lucid's vehicle trademark, citing potential consumer confusion. Lucid, facing a significant stock decline and reduced production estimates, is fighting the petition, despite the potential high costs and impact on its trademarks.

Portfolio Pulse from Chris Katje

March 12, 2024 | 7:38 pm

Tesla faced potential Q1 delivery misses and a production halt at its Berlin factory due to suspected arson, impacting its stock. Rivian saw a surge in pre-orders for its new R2 model. Nio is launching a Model Y rival with lower costs. Ford struggles with EV transition, focusing on hybrids. Lucid's price target was halved by RBC. The KraneShares Electric Vehicles ETF fell 3.68% for the week.

Portfolio Pulse from Shanthi Rexaline

March 09, 2024 | 2:16 pm

RBC Capital Markets analyst Tom Narayan has halved Lucid Group's price forecast from $6 to $3 despite its technology being 12%-23% more efficient than Tesla's. The downgrade is due to reactive discussions with OEMs, lower expected licensing penetration, and demand concerns for its sedans. Lucid's Gravity and Mid-size offerings aim to reverse these woes, and its tech could benefit PHEVs amidst the EV slowdown in the U.S. Lucid also adjusted the price of its Lucid Air Pure model to compete with luxury sedans from Mercedes and BMW.

Portfolio Pulse from Nabaparna Bhattacharya

March 08, 2024 | 6:08 pm

Lucid Group's (NYSE:LCID) short interest has decreased by 6.57%, now representing 21.6% of its float with 254.07 million shares sold short. It would take about 8.62 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards LCID, potentially impacting its stock price. Compared to its peers, LCID has a higher short interest, suggesting more bearish sentiment among investors.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 4:45 pm

RBC Capital analyst Tom Narayan maintains a Sector Perform rating on Lucid Group (LCID) and lowers the price target from $6 to $3.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 3:55 pm

Electric vehicle stocks saw gains, with Tesla closing above $200 for the first time since mid-February. Key events included Tesla's Roadster update and Model Y price cut reversion, Apple shelving its self-driving car project, Fisker seeking partnerships to stay afloat, Biden's administration blocking Chinese EVs due to security risks, and Canoo's shareholder approval for a reverse stock split. The KraneShares Electric Vehicles ETF also saw a weekly increase.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 2:21 pm

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