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

2.20

Mkt cap

5.8B

Volume

70M

High

2.28

P/E Ratio

-1.88

52-wk high

5.31

Low

2.17

Div yield

N/A

52-wk low

2.02

The National Highway Traffic Safety Administration (NHTSA) is investigating the effectiveness of Lucid Group Inc's software update remedy for a recall of over 2,000 Air Sedans due to a windshield defrosting issue. The recall, issued in January for vehicles made during 2022-2023, concerns the failure of the high voltage coolant heater (HVCH) to defrost the windshield. Lucid's solution involves a software update to alert drivers of a failure, but NHTSA is concerned this may not be sufficient. The investigation follows a similar recall by Jaguar Land Rover, which opted to replace the coolant heater in affected vehicles. Lucid delivered 6,001 vehicles in 2023 and will discuss its full-year financial results on Feb. 21.

Portfolio Pulse from Anan Ashraf

February 12, 2024 | 11:11 am

Electric vehicle stocks had a mixed week, with Tesla seeing a sales drop in China but an increase year-over-year. Rivian introduced new battery packs to lower prices, while Ford aims for the low-end EV market. Lucid partnered with Saks for exclusive demos, and Nikola rejected nominees from its convicted founder. The KraneShares EV ETF saw a slight weekly gain.

Portfolio Pulse from Shanthi Rexaline

February 10, 2024 | 1:52 pm

Gary Black, a Future Fund Managing Partner, criticized Lucid Group's (NASDAQ:LCID) pricing strategy, stating that advertising cannot compensate for a bad product or pricing strategy. Despite Lucid's advertising efforts, including winning the '2023 World Luxury Car Of The Year', its stock has been declining. Black contrasts Lucid's strategy unfavorably with Tesla, advocating for a balanced approach of advertising and pricing to boost sales without hurting margins. Lucid's stock has seen a significant drop, closing up 3.9% at $3.51 recently but down 15.4% year-to-date and nearly 66% over the past year.

Portfolio Pulse from Anan Ashraf

February 09, 2024 | 11:15 am

Lucid Gr (NYSE:LCID) has seen a 9.58% increase in short percent of float since its last report, with 256.31 million shares sold short, representing 21.97% of available shares. This indicates a bearish market sentiment towards LCID, although it's not a definitive predictor of stock price movement. Lucid Gr's short interest is significantly higher than its peer group average of 9.43%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:45 pm

This week in the EV sector, Tesla faced a court verdict invalidating Elon Musk's compensation plan and recalled 2.2 million vehicles. Ford reported a decline in EV sales, while Lucid's stock surged 25% on positive news. Canoo expanded its fleet with Zeeba, and Arrival was delisted from Nasdaq. The KraneShares EV ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

February 03, 2024 | 1:40 pm

Lucid Group Inc (NASDAQ:LCID) is rumored to be launching a dedicated security vehicle for the Saudi Arabian police force, according to online sources. This move could strengthen Lucid's ties with Saudi Arabia, where its majority shareholder, the Public Investment Fund, is based. The vehicle is expected to be unveiled at the World Defense Show in Riyadh. This development follows Lucid's establishment of a new manufacturing unit in Saudi Arabia and a deal to sell up to 100,000 EVs to the Saudi government over the next decade.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 10:18 am

Lucid Group Inc (NASDAQ:LCID) shares have increased by over 30% in the last week, with a 27% rally at the start of the week alongside other EV stocks recovering from recent declines. The rally is attributed to a new partnership with Ma'aden Rolling for aluminum sheets for its U.S. factories and the appointment of Matt Everitt as General Counsel. Other EV makers like Nio, XPeng, and Li Auto reported strong January deliveries, contributing to the sector's momentum. Lucid does not pay dividends but engages in other value-returning activities.

Portfolio Pulse from Adam Eckert

February 01, 2024 | 3:11 pm

Nasdaq futures rebounded as traders anticipate strong earnings from tech giants Meta, Amazon, and Apple. The market reacted negatively to disappointing earnings from Alphabet, Microsoft, and AMD, and a hawkish Fed stance. The S&P 500 and Nasdaq Composite hit two-week lows. Analysts highlight the 'January Barometer' predicting a positive market trend for the year. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket gains. Several companies, including Qorvo and Lucid Group, showed significant premarket movements.

Portfolio Pulse from Shanthi Rexaline

February 01, 2024 | 12:27 pm

US stocks showed mixed performance ahead of key tech earnings and the Fed meeting. The S&P 500 and Nasdaq 100 dipped, while the Dow edged up. Microsoft, Alphabet, and AMD are set to report earnings. Economic data showed higher job openings and home prices, but below expectations. UPS shares fell after a revenue miss and job cuts, while GM surged on strong results and outlook. Danaher, MSCI, and Lucid also rose, but Schlumberger fell with the oil sector. ETFs SPY, DIA, and QQQ moved in line with their indices, and sector funds XLF and XLK reflected financial and tech sector performance.

Portfolio Pulse from Piero Cingari

January 30, 2024 | 6:31 pm

Lucid Group Inc (NASDAQ:LCID) shares dropped Tuesday morning after a 27% rally on Monday. The decline follows a broader EV sector weakness, influenced by Tesla's disappointing financial results. Lucid's upcoming Q4 financial report is expected to show a loss of 29 cents per share. A new partnership with Ma'aden Rolling for aluminum sheets and the appointment of Matt Everitt as General Counsel are recent positive developments. Technical analysis suggests Lucid's stock is below its 200-day moving average, indicating a bearish signal.

Portfolio Pulse from Adam Eckert

January 30, 2024 | 2:48 pm

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