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

Argus analyst Bill Selesky maintains a bullish stance on Tesla, Inc. (NASDAQ:TSLA), predicting a 33% stock rally as he expects the company's growth to reaccelerate in 2024. Selesky cites Tesla's artificial intelligence in manufacturing and factory utilization as a significant competitive advantage. He also notes Tesla's current leadership in the EV market and potential for increased market share. Despite challenges faced by competitors like Ford (NYSE:F), General Motors (NYSE:GM), Toyota (NYSE:TM), Volkswagen (OTC:VWYAG), Nio (NYSE:NIO), Lucid Motors (NASDAQ:LCID), and Rivian (NASDAQ:RIVN), Tesla is poised for growth. Argus has set a $316 price target for Tesla stock.

Portfolio Pulse from Shanthi Rexaline

January 07, 2024 | 2:07 pm

In 2023, the EV industry faced production and demand challenges, with Tesla, Inc. (TSLA) doubling its stock value after aggressive price cuts. Rivian Automotive, Inc. (RIVN) also ended the year positively, maintaining production forecasts and managing costs. Global EV adoption slowed due to affordability and infrastructure issues. Tesla's North American Charging Standard gained significant adoption from other automakers. Legacy automakers scaled back EV plans due to strikes and demand slowdown. Analyst Gary Black views Tesla as the only investable EV company, with BYD and Rivian as potential winners. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 7.85% for the year.

Portfolio Pulse from Shanthi Rexaline

December 30, 2023 | 3:28 pm

On Christmas, several automakers including Tesla, Ford, Stellantis, Rivian, and Lucid Group used social media to extend holiday wishes, featuring their vehicles in festive posts. Tesla showcased its Cybertruck, Ford highlighted the Mustang, Stellantis featured Jeep, RAM, and Chrysler brands, Chrysler individually presented the Pacifica minivan, Rivian displayed the R1T truck, and Lucid chose the Air sedan over its new Gravity SUV.

Portfolio Pulse from Anan Ashraf

December 27, 2023 | 1:30 pm

Lucid Group Inc (NASDAQ:LCID) CEO Peter Rawlinson announced that the company's new mid-sized EV, priced around $50,000 to compete with Tesla's Model 3 and Y, will be launched sooner than 2030. Initially stated for mid-late decade, the timeline has been misquoted as 2030. The development of this vehicle is part of Lucid's strategy to enter the high-volume family car market after its premium Air sedan and Gravity SUV. Additionally, Lucid plans to enter the UK market with right-hand drive cars, with a timeline set for late 2025.

Portfolio Pulse from Anan Ashraf

December 21, 2023 | 12:25 pm

The past week saw bullish sentiment in the stock market with the Dow Jones, Nasdaq-100, and S&P 500 showing gains. The Federal Reserve maintained interest rates, hinting at a peak and potential cuts in 2024. Bullish reports included Microsoft's options trading by Rep. Gottheimer, Lucid's production success in Saudi Arabia, and Dogecoin's potential rise. Bearish news covered SEC's crypto compliance warning, U.S. oil production's lack of impact on energy stocks, and JD.com's need for strategic changes.

Portfolio Pulse from Michael Cohen

December 16, 2023 | 3:00 pm

Lucid Group, Inc. (NASDAQ:LCID) stock is trading higher, up over 17% in the past month. The Federal Reserve's decision to hold interest rates steady and signal future rate cuts, along with positive retail sales and jobs data, have boosted markets. Lucid has produced nearly 800 cars at its new Saudi Arabian factory and has a deal with the Saudi government for up to 100,000 vehicle purchases over 10 years. The company's trading volume has exceeded its 100-day average, with CFO Sherry House resigning on Monday. Rivian Automotive, Inc. (NASDAQ:RIVN) has announced a deal with AT&T for a pilot program to purchase Rivian EVs.

Portfolio Pulse from Erica Kollmann

December 14, 2023 | 7:25 pm

US stocks are on track for a 7-day winning streak, with the S&P 500 and Nasdaq 100 nearing all-time highs, and the Dow setting new records. The Russell 2000 has surged following the Fed's meeting. Treasury yields have fallen, with the 10-year yield at 3.9%, positively impacting the iShares 20+ Year Treasury Bond ETF (TLT). Mortgage rates have dropped below 7%, boosting real estate stocks. The dollar weakened against the euro, while gold (GLD) and crude oil (USO) prices rose. Bitcoin also gained. Solar stocks, including SolarEdge (SEDG), Enphase Energy (ENPH), and First Solar (FSLR), rallied after the Fed's pivot. Moderna (MRNA) surged on positive trial results, Align Technology (ALGN) soared after Health Canada's update, and Lucid Group (LCID) rallied on EV production news. Apellis Pharmaceuticals (APLS) fell after downgrades, and TPI Composites (TPIC) surged on an agreement with Oaktree Capital Management.

Portfolio Pulse from Piero Cingari

December 14, 2023 | 6:58 pm

Jabil Inc. reported Q1 earnings with revenue of $8.39 billion, surpassing estimates, and an adjusted EPS of $2.60, causing its shares to rise by 5%. Other stocks also saw gains, including Redfin, Sunnova Energy, Wayfair, Sunrun, Moderna, Pacific Biosciences, Alector, Opendoor Technologies, Enphase Energy, Align Technology, Gold Fields, Alcoa, First Solar, Lucid Group, Citizens Financial Group, Rivian Automotive, Pool Corporation, RH, Regions Financial Corporation, and The Carlyle Group. Moderna's stock climbed after announcing positive study data with Merck, while Pacific Biosciences was initiated with an Overweight rating by Stephens & Co. Alector received an upgrade from Stifel, and Align Technology got an updated license from Health Canada. Alcoa was approved for continued mining, and Rivian signed a deal with AT&T.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 3:15 pm

Lucid Group Inc (NASDAQ:LCID) has produced about 800 electric vehicles at its Saudi Arabian facility and trained over 200 local employees. The plant, which opened in September with a capacity of 5,000 EVs per year, is part of a deal to sell up to 100,000 vehicles to the Saudi government over ten years. The vehicles are assembled from semi-knockdown kits made in Arizona. Lucid, which is 60% owned by Saudi Arabia's PIF, aims to have a fully operational factory by 2026. The company reported Q3 revenue of $137.81 million with a loss of 28 cents per share and has adjusted its production target to 8,000-8,500 vehicles for the year.

Portfolio Pulse from Anan Ashraf

December 14, 2023 | 9:22 am

An options sweep for Lucid Group was observed, with a trader buying 2,809 contracts of the $5 call options expiring on January 19th at $0.21 each when the stock was trading at $4.40. This is compared to an open interest of 21,864 contracts, indicating a significant transaction relative to the existing open positions.

Portfolio Pulse from Charles Gross

December 13, 2023 | 7:46 pm

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