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

Stocks showed little movement while gold and Treasuries rose amid mixed sentiments due to weak ADP employment data. Investors are considering the implications for interest rates and corporate earnings. Oil prices fell, pressuring energy stocks like XLE. TLT gained on safe-haven demand. Citigroup announced a share buyback, boosting its stock, while Altria and Philip Morris were hit by British American Tobacco's brand devaluation. Lucid plans to lower prices, Campbell Soup reported strong earnings, and Carnival saw gains with travel optimism. Brown Forman and MongoDB fell on results, while SentinelOne and Robinhood rose.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 7:04 pm

Sirius XM Holdings Inc (SIRI) and Lucid Group, Inc. (LCID) have announced that SiriusXM Canada's audio-streaming service is now available to all new Canadian Lucid Air owners. The service will be offered as an optional subscription across the Lucid Air lineup, with a three-month trial included. Lucid Air models include the Lucid Sapphire, Grand Touring, Touring, and Pure. SiriusXM's service features ad-free, expertly curated music channels and personalized recommendations. Lucid's SVP of Digital, Michael Bell, expressed excitement about enhancing the audio experience for Lucid customers. LCID shares saw a 7.64% increase to $4.51.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 5:39 pm

SiriusXM Canada and Lucid Group, Inc. have partnered to offer SiriusXM's audio streaming entertainment to all new and existing Canadian Lucid owners. This includes a 3-month trial subscription. SiriusXM will be an optional subscription for the Lucid Air lineup, enhancing the luxury driving experience with a wide range of curated music, entertainment, and sports content. The Lucid Air is designed to receive over-the-air software updates, allowing for continuous improvement and new features like SiriusXM.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 3:53 pm

Wall Street is set for a rebound with U.S. futures indicating a positive open after two days of declines. The ADP National Employment Report showed weaker-than-expected private employment growth, fueling speculation about potential Fed rate cuts in 2024. Job openings decreased, suggesting a softening labor market. Oil prices fell, while gold prices rose. Chinese stocks dropped after Moody's downgraded China's credit outlook. Bitcoin and Ethereum's market value surpassed $1 trillion. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are up in premarket trading. NVIDIA, Tesla, Lucid Group, and Exxon Mobil saw premarket gains, while Altria Group, Philip Morris, and Plug Power faced declines.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 1:49 pm

Over the past year, XPeng Inc (XPEV) has outperformed Tesla Inc (TSLA) with a 38.49% return on investment compared to Tesla's 32.75%. XPeng's stock growth is attributed to strong delivery numbers and the launch of a new MPV model aimed at wealthier Chinese households. XPeng expects to deliver between 59,000 and 63,500 vehicles in Q4. Meanwhile, other EV makers like NIO Inc (NIO) and Lucid Group Inc (LCID) have seen significant declines in their stock value over the same period.

Portfolio Pulse from Surbhi Jain

December 06, 2023 | 1:10 pm

Lucid Group Inc (NASDAQ:LCID) announced changes to its 2024 Lucid Air lineup, aiming to reduce starting prices, offer fewer models, and increase customization options to attract more customers and reduce cash burn. The Air lineup will now have four models, with the Pure starting at $77,400 and the Air Touring at $85,900. Details on the Grand Touring's price and specs will be released in early 2024. Lucid's Q3 earnings showed lower-than-expected vehicle production and sales, leading to a quarterly loss.

Portfolio Pulse from Anan Ashraf

December 06, 2023 | 9:58 am

The European Union is reportedly planning to propose a three-year delay on tariffs for electric vehicle (EV) trade with the UK. This move could significantly impact the EV industry, providing manufacturers with more time to adjust to the post-Brexit trading environment and potentially benefiting companies that trade between the EU and UK.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:17 pm

In the past week, Tesla's Cybertruck launch was seen as a pricier 'side story' and Fisker scaled back production plans for the fourth time. Ford dealers are quitting the EV program due to stringent criteria, while Nio is offering incentives to boost sales. Rivian launched a leasing option for its R1T pickup truck. The KraneShares Electric Vehicles and Future Mobility Index ETF had a slight increase on Friday but an overall weekly loss.

Portfolio Pulse from Shanthi Rexaline

December 02, 2023 | 2:34 pm

Lucid Group Inc (LCID) considered but ultimately rejected a yoke steering wheel for its Gravity SUV, opting instead for a 'squircle' shaped wheel. The decision was based on concerns about operability. Tesla Inc (TSLA) offers a yoke steering wheel as an option for its Model S and X vehicles. Lucid unveiled the Gravity SUV at the LA Auto Show, with production starting in late 2024 and prices beginning under $80,000.

Portfolio Pulse from Anan Ashraf

November 30, 2023 | 8:16 am

The United Auto Workers (UAW) union has launched a campaign to unionize workers at 13 non-union automakers in the U.S., targeting nearly 150,000 workers from companies like BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen, and Volvo. UAW President Shawn Fain, after securing contracts with GM, Ford, and Stellantis, is looking to expand the union's reach beyond the 'Big Three' Detroit automakers by 2028. The UAW's membership has declined over the years, but recent successes have led to wage increases at non-union companies, known as the 'UAW bump.' Past efforts to unionize at foreign-based automaker plants and Tesla's Fremont plant have seen limited success.

Portfolio Pulse from Michael Cohen

November 29, 2023 | 10:37 pm

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