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

Lucid Group shares are experiencing a downturn following a Q3 delivery update on Tuesday.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 5:12 pm

Tesla CEO Elon Musk responded to Lucid Group's disappointing Q3 deliveries by highlighting the company's struggles with production and sales. Lucid delivered only 1,457 EVs in Q3, falling short of the market consensus of 2,118. Year-to-date, Lucid has produced 6,037 units, with an additional 700 shipped to Saudi Arabia for final assembly. Musk previously warned that Lucid and Rivian could face bankruptcy due to high expenses.

Portfolio Pulse from Anan Ashraf

October 18, 2023 | 12:16 pm

Lucid Group's Q3 deliveries missed expectations, leading to a 5% drop in its stock. The company delivered 1,457 EVs in Q3, below the consensus of 2,118. Year-to-date, Lucid has produced 6,037 units. The company has guided to production of over 10,000 units for the year, leaving a target of 3,263 units for Q4. Analyst Gary Black predicts further reduction in Lucid's 2023 production and expects the stock to fall to around $3. Lucid shares are down about 27% year-to-date.

Portfolio Pulse from Shanthi Rexaline

October 18, 2023 | 7:45 am

NVIDIA, United Airlines, Moderna, Lucid, and Bank of America were the top stocks on investors' radar. NVIDIA saw a 3.24% loss due to the Biden administration's plans to halt the export of advanced AI chips to China. United Airlines gained 1.49% despite an uncertain Q4 outlook. Moderna shares fell by 6.10% due to Pfizer's warning about reduced COVID-19 product demand. Lucid shares slipped by 5.30% following its Q3 production and delivery totals announcement. Bank of America rose by 2.33% due to a 10% YoY net income growth in Q3 FY23.

Portfolio Pulse from Benzinga Neuro

October 18, 2023 | 1:44 am

Lucid Group's shares are trading lower after the company released its Q3 delivery update.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:07 pm

Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower after the company announced its Q3 2023 production and delivery totals. Lucid produced 1,550 vehicles and delivered 1,457 vehicles during Q3, lower than the 2,173 vehicles produced and 1,404 vehicles delivered in Q2. The company also recently opened a new EV manufacturing facility in Saudi Arabia.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2023 | 2:29 pm

During Tuesday's pre-market session, several consumer discretionary stocks experienced significant movement. Tupperware Brands, Wyndham Hotels & Resorts, Connexa Sports Techs, MGO Global, Charles & Colvard, and Rent the Runway saw their stocks rise, while Lottery.com, Chijet Motor Co, Visionary Education Tech, Lucid Gr, Choice Hotels Intl, and QuantaSing Group experienced a decline in their stock prices.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 1:06 pm

Lucid Group, Inc. (NASDAQ:LCID) announced its Q3 2023 production and delivery totals, producing 1,550 vehicles and delivering 1,457. The company also produced over 700 additional vehicles in transit to Saudi Arabia for final assembly. Lucid will host a conference call to discuss its Q3 2023 financial results on November 7, 2023. The company is partnering with Say Technologies to enhance engagement with shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:02 pm

US stock futures are sliding as traders look past positive earnings news. The bond yields have resumed their climb, with the 10-year U.S. Treasury note yield back above 4.7%, reflecting investor fears concerning further rate hikes. Johnson & Johnson (NYSE:JNJ) and Bank of America Corp. (NYSE:BAC) reported better-than-expected results. Analysts predict a year-end rally and a strong 2024 ahead. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) slipped 0.27% and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.29%.

Portfolio Pulse from Shanthi Rexaline

October 17, 2023 | 11:33 am

Lucid Group, Inc. (NASDAQ:LCID) has not yet released its Q3 deliveries report, leading to speculation about potentially poor performance. The company has faced challenges since it began producing its luxury EVs in late September 2021, including supply-chain disruptions and lukewarm demand due to economic uncertainties and aggressive price cuts by Tesla. Lucid's cumulative production and deliveries in the first half were well short of the company’s full-year production guidance of over 10,000 units.

Portfolio Pulse from Shanthi Rexaline

October 15, 2023 | 1:59 pm

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