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

Lucid Group Inc (NASDAQ:LCID) announced a $6 million cash bonus for CEO Peter Rawlinson, recognized for his contributions to the Lucid Gravity SUV unveiling. Elon Musk criticized the bonus on X, suggesting it's inversely proportional to performance. Lucid's stock has fallen 65.9% over the past year, despite a recent 5.2% increase.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 2:47 am

Lucid Group announced a $6M cash bonus for CEO Peter Rawlinson, recognizing his contributions to the Lucid Gravity SUV's launch. The bonus was approved by the Board on February 9, 2024, following the vehicle's debut at the Los Angeles Auto Show in November 2023.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 10:26 pm

Lucid Group, Inc. (NASDAQ:LCID) shares rose over 3% after announcing new pricing for its Lucid Air Pure and Air Touring models, along with a $1,000 charging allowance for customers. The price adjustments make the Air Pure and Air Touring more affordable, with the former now starting at $69,900 and the latter at $77,900. This move comes as Lucid's shares have fallen over 40% in the last six months, a steeper decline than Tesla, Inc. (NASDAQ:TSLA). Additionally, Lucid faces scrutiny from the National Highway Traffic Safety Administration (NHTSA) over a recall remedy for its Air Sedans, with concerns that the software update for the high voltage coolant heater may not be sufficient. Lucid is set to report its Q4 2023 financial results on February 21, 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 15, 2024 | 6:03 pm

Lucid Group, Inc. (NASDAQ:LCID) announced new pricing for its Lucid Air lineup, aiming to make electric vehicles more accessible. The Lucid Air Pure now starts at $69,900, with the Air Touring and Air Grand Touring priced at $77,900 and $109,900, respectively. Lucid is also offering two years of free scheduled maintenance and a $1,000 charging accessory allowance to enhance the ownership experience. The company's efforts are part of a broader strategy to increase EV adoption and reduce climate change impact.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:02 pm

Lucid USA is recalling 189 of its 2022-2024 Air vehicles due to a software issue in versions 2.1.2 through 2.1.26 that may cause a fault when the adaptive cruise control is activated, leading to a loss of drive power.

Portfolio Pulse from Charles Gross

February 15, 2024 | 10:36 am

Shares of automobile, EV, and auto part manufacturers are down following January CPI data indicating a higher-than-expected inflation rise.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:46 pm

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

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