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's executive reported that since its opening in September, the Saudi plant has assembled 800 cars. The focus is currently on training local staff to ensure quality and efficiency in production.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 5:47 pm

U.S. stocks are approaching all-time highs with the VIX at nearly 3-year lows ahead of the Fed meeting. Inflation data for November showed a slight decrease, aligning with estimates. The U.S. dollar index dipped slightly, while Treasury yields were stable. Gold and Bitcoin declined, and oil prices faced downward pressure. SPY, DIA, and QQQ ETFs saw modest gains, while XLF rose and XLE fell. Solar ETF TAN dropped significantly. LCID, ORCL, CAVA, MRVI, SEDG, ENPH, FSLR, and JCI stocks had notable movements due to various company-specific news.

Portfolio Pulse from Piero Cingari

December 12, 2023 | 6:56 pm

Johnson Controls International plc (NYSE:JCI) shares dropped over 6% due to weaker-than-expected quarterly results, with sales of $6.91 billion missing the $7.09 billion consensus and adjusted EPS of $1.05 below the $1.09 consensus. Other stocks experienced significant movements, with notable gainers including Aditxt, Inc. (ADTX), C4 Therapeutics, Inc. (CCCC), and Icosavax, Inc. (ICVX), among others. Losers included Achieve Life Sciences, Inc. (ACHV), Harbor Custom Development, Inc. (HCDI), and Oracle Corporation (ORCL), with various reasons such as FDA feedback, bankruptcy filing, and missed sales estimates, respectively.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 6:22 pm

Lucid Motors' stock price is trading lower following the announcement that CFO Sherry House is resigning to pursue other opportunities. The departure of a key executive often raises concerns about the company's financial leadership and strategy, potentially affecting investor confidence.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:54 pm

Lucid Group Inc (NASDAQ:LCID) shares fell after CFO Sherry House resigned to pursue other opportunities, effective immediately. She will remain in an advisory role until year-end. Gagan Dhingra, VP of accounting, will be interim CFO. This follows Lucid's removal from the Nasdaq-100 Index, which also contributed to a share price decline.

Portfolio Pulse from Adam Eckert

December 12, 2023 | 1:30 pm

U.S. stock futures, including Nasdaq and S&P 500, are up ahead of the November consumer price inflation report. A softer inflation reading could prompt a rally if it aligns with expectations for a less hawkish Federal Reserve. Despite positive market performance on Monday, corporate updates have been negative, potentially affecting sector stocks. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw premarket gains. Lucid Group (LCID) dropped after its CFO's resignation, Oracle (ORCL) slumped following quarterly results, and Hasbro (HAS) declined after announcing job cuts. FuelCell Energy (FCEL) and Johnson Controls (JCI) are set to report earnings.

Portfolio Pulse from Shanthi Rexaline

December 12, 2023 | 12:25 pm

Oracle Corporation reported second-quarter earnings that exceeded expectations but missed on sales, causing its shares to drop 8.5% in pre-market trading. Other stocks also moved lower in the pre-market session, including Kinetik Holdings, Harmony Gold Mining, GoPro, Genmab, Lucid Group, RTX Corporation, and Airbnb.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 10:32 am

U.S. stock futures are trading higher, with focus on Johnson Controls (JCI), Oracle (ORCL), Blue Bird (BLBD), Lucid Group (LCID), and Champions Oncology (CSBR). JCI is expected to report earnings of $1.09 per share on revenue of $7.09 billion. ORCL reported higher earnings but missed sales estimates, causing an 8.8% drop in after-hours trading. BLBD reported strong Q4 results and raised its FY24 revenue forecast, leading to an 8.9% stock increase after hours. LCID's CFO resigned, resulting in a 3.3% decline in after-hours trading. CSBR is anticipated to post a quarterly loss at 17 cents per share on revenue of $12.84 million.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 8:18 am

BMW (OTC:BMWYY) is set to launch its luxury electric i7 Sedan, starting at $105,700, with a performance that rivals Mercedes-Benz EQS and Porsche Taycan. The i7 xDrive 60 variant costs $124,200 and offers 536 horsepower with a range of up to 317 miles. Tesla investor Ross Gerber sees the i7 as a strong competitor to Lucid Motors (NASDAQ:LCID), potentially impacting Lucid's market position.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 7:29 am

Lucid Group, Inc. (NASDAQ:LCID) shares fell in after-hours trading following the announcement of CFO Sherry House's immediate resignation to pursue other opportunities. This news comes on the heels of Lucid being removed from the Nasdaq-100 Index, further impacting the stock negatively. Gagan Dhingra, VP of Accounting and PAO, will serve as interim CFO and PFO.

Portfolio Pulse from Ryan Gustafson

December 11, 2023 | 10:05 pm

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