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

TDK Corp., a key Apple supplier, has partnered with McLaren Racing to enhance its presence in Formula E by supplying components for McLaren's electric cars. This move highlights TDK's focus on the growing EV market, where it sees significant opportunities.

Portfolio Pulse from Benzinga Neuro

October 29, 2024 | 8:31 am

Lucid Group, Inc. (NASDAQ:LCID) announced that its Lucid Air models have received a five-star overall safety rating from the National Highway Traffic Safety Administration for 2025. This includes the Lucid Air Pure, Touring, Grand Touring, and Sapphire models.

Portfolio Pulse from Benzinga Newsdesk

October 28, 2024 | 4:02 pm

Lucid Group announced a $1.75 billion capital raise, causing its shares to drop. CEO Peter Rawlinson stated the move was to avoid a 'going concern' disclosure, as the company's financial runway was dwindling. Despite recent funding from Saudi Arabia's Public Investment Fund, the timing and size of the offering surprised investors and analysts. Lucid is in a capital-intensive phase, preparing to launch a new SUV and expand its manufacturing capabilities.

Portfolio Pulse from Erica Kollmann

October 24, 2024 | 2:38 pm

Lucid CEO Peter Rawlinson expressed skepticism about Tesla's robotaxi vision, predicting self-driving cars won't be mainstream until the 2030s. He emphasized Lucid's technological advancements over Tesla, highlighting challenges in achieving full autonomy.

Portfolio Pulse from Chris Katje

October 23, 2024 | 10:19 pm

Lucid Motors has raised $1.67 billion in equity, providing the company with sufficient cash to operate until 2026, according to CEO Peter Rawlinson. This financial move is expected to support Lucid's growth and operational plans.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:06 pm

Lucid Group's CEO, Peter Rawlinson, discussed the company's significant investment from Saudi Arabia's PIF, its rivalry with Tesla, and Elon Musk's political distractions. Lucid is building a factory in Saudi Arabia and recently announced a public stock offering. Despite scaling back production targets, Lucid claims to outperform Tesla in some markets.

Portfolio Pulse from Erica Kollmann

October 19, 2024 | 12:01 pm

U.S. stocks rose with the S&P 500 gaining 0.08%. Gevo, Inc. secured a $1.46 billion DOE loan, boosting its stock by 18%. Nixxy, Inc. surged 52% after business updates. Iridium Communications rose 12% on strong earnings. Proficient Auto Logistics fell 28% due to poor earnings outlook. Cerus Corporation dropped 18% after program updates. Lucid Group fell 16% after announcing a new investment.

Portfolio Pulse from Avi Kapoor

October 17, 2024 | 6:12 pm

U.S. stocks rose with the Nasdaq Composite gaining 0.5% as retail sales exceeded expectations. Gevo, Inc. surged 18% after securing a $1.46 billion DOE loan, while Nixxy, Inc. soared 116% on business updates. Iridium Communications rose 16% on strong earnings. Proficient Auto Logistics fell 23% due to expected lower net income, and Cerus Corporation dropped 20% after program updates. Lucid Group declined 15% following an investment announcement.

Portfolio Pulse from Avi Kapoor

October 17, 2024 | 4:45 pm

Several consumer discretionary stocks experienced significant price movements during Thursday's intraday session. Notable gainers included Jiade, Jeffs Brands, Yoshitsu Co, Jiuzi Holdings, and Mullen Automotive. On the losing side, Lucid Group, Fenbo Holdings, Lands' End, Digital Brands Group, Lixiang Education Holding, and MEDIROM Healthcare Technologies saw declines.

Portfolio Pulse from Benzinga Insights

October 17, 2024 | 4:31 pm

Lucid Group announced its expected financial results for the quarter ended September 30, with revenue projected between $199M and $200M, and a loss from operations ranging from $765M to $790M.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 2:07 pm

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