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

2.20

Mkt cap

5.8B

Volume

70M

High

2.28

P/E Ratio

-1.88

52-wk high

5.31

Low

2.17

Div yield

N/A

52-wk low

2.02

Major electric vehicle (EV) stocks declined in the week ending Oct. 27, with Tesla (TSLA) extending its lean patch. Tesla debuted on Fortune’s list of 100 fastest-growing companies in 2023 and announced modest price hikes for some Model Y variants. Ford (F) is pushing back its $12 billion EV investment due to losses and market challenges. Mercedes-Benz (MBGAF, MBGYY) reported disappointing Q3 results and lowered its full year guidance. Nikola (NKLA) was awarded $165 million plus interest in an arbitration proceeding with its founder. Fisker (FSR) announced price cuts for its top trim Extreme. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 2.64% for the week.

Portfolio Pulse from Shanthi Rexaline

October 28, 2023 | 1:55 pm

Lucid Group Inc (NASDAQ:LCID) is recalling over 1,000 Lucid Air sedans due to risks of rear seats overheating and causing burn injuries. The company has delivered 1,457 EVs in Q3 and produced 6,037 units year-to-date. The stock has slumped 34% year-to-date.

Portfolio Pulse from Anan Ashraf

October 27, 2023 | 5:44 am

Lucid Group, Inc. (NASDAQ:LCID) has launched a new referral program in the United States, similar to Tesla's. New customers can receive a discount of up to $1,250 on having a referral link from an existing Lucid user. Existing Lucid owners will get credited points which they can use to redeem for branded gear, vehicle accessories, or limited-edition products.

Portfolio Pulse from Anan Ashraf

October 24, 2023 | 3:14 am

Electric vehicle stocks fell in the week ending Oct. 21, with Tesla's disappointing Q3 earnings and revenue miss leading the downturn. Tesla's auto margin was below consensus estimates, and CEO Elon Musk's comments on the earnings call were not well received by investors. Rivian CEO R.J. Scaringe allayed liquidity concerns, stating that the company's recent $1.5 billion convertible green note offering was meant to create an additional buffer. Lucid Group's Q3 deliveries were below consensus estimates. Faraday Future shares gained after the company raised non-dilutive capital. Toyota confirmed it will adopt Tesla’s North American Charging Standard for its battery EVs from 2025.

Portfolio Pulse from Shanthi Rexaline

October 21, 2023 | 2:45 pm

Lucid Group Inc's (NASDAQ:LCID) shares have fallen by 17.5% to $4.26 over the past five sessions due to an overall downturn in the EV industry and rising Treasury yields. The company's Q3 2023 production and delivery figures also contributed to the decline. Lucid produced 1,550 vehicles and delivered 1,457 in the quarter.

Portfolio Pulse from Henry Khederian

October 20, 2023 | 7:54 pm

Lucid Group Inc (NASDAQ:LCID) will unveil its first SUV, the Gravity, at the LA Auto Show on November 16. The vehicle is expected to start production in late 2024 and will feature flexible seating options and a range 'beyond anything else on the market except Lucid Air.' The price range is yet to be disclosed. The company has sufficient capital for the start of Gravity's production, with total liquidity of approximately $6.25 billion at the end of Q2.

Portfolio Pulse from Anan Ashraf

October 20, 2023 | 5:04 am

Lucid Group shares are trading lower as EV stocks drop following worse-than-expected Q3 financial results from Tesla.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 6:34 pm

Benzinga's options activity scanner has detected unusual trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Rivian (RIVN), Lucid Group (LCID), McDonald's (MCD), DraftKings (DKNG), Starbucks (SBUX), Li Auto (LI), Mohawk Industries (MHK), Airbnb (ABNB), and Fisker (FSR). The activity includes both put and call options with varying sentiments, expiration dates, and strike prices.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 5:35 pm

Shares of EV makers Lucid Group Inc (NASDAQ:LCID) and Rivian Automotive Inc (NASDAQ:RIVN) fell after Tesla Inc (NASDAQ:TSLA) reported disappointing Q3 financial results. Tesla's revenue increased 9% YoY to $23.35 billion, missing the consensus estimate of $24.38 billion. Adjusted earnings were 66 cents per share, below estimates of 73 cents per share. The lower results were due to lower average selling prices and planned downtimes for factory upgrades. Lucid and Rivian are set to report Q3 results on Nov. 7.

Portfolio Pulse from Adam Eckert

October 19, 2023 | 1:11 pm

Benzinga's options activity scanner has identified significant trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Lucid Group (LCID), NIO Inc. (NIO), General Motors (GM), MGM Resorts (MGM), Victoria's Secret (VSCO), Helen of Troy (HELE), Hilton Worldwide (HLT), Marriott International (MAR), and Norwegian Cruise Line (NCLH). The options activity ranges from bullish to bearish sentiment, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 5:35 pm

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