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

Benzinga's weekly review of investor favorites included bullish views on Bitcoin, Apple, and Amazon, and bearish views on Tesla, Lucid Group, and AMC Entertainment. Anthony Scaramucci predicted Bitcoin could reach $150K-$250K with the launch of Bitcoin ETFs. Apple is expected to use Resin Coated Copper for the iPhone 17's mainboard, potentially leading to a slimmer device and cost-saving benefits. Amazon's NFL broadcast rights are seeing success with record viewership. Tesla warned of a likely reduction in the Model 3's tax credit. Lucid Group has yet to announce its Q3 delivery numbers, causing investor concern. AMC CEO Adam Aron was the victim of an extortion attempt.

Portfolio Pulse from Michael Cohen

October 14, 2023 | 1:20 pm

The week ending October 13 saw a lackluster performance from electric vehicle (EV) stocks, with Tesla's Q3 margins causing concern among analysts. Rivian's stock is now seen as undervalued by some analysts, while Fisker is planning to expand into China. Lucid's delay in delivery has unnerved investors, and Ford is offering a $7,500 discount on its F-150 Lightning. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 14, 2023 | 1:18 pm

Lucid Group, Inc. (NASDAQ:LCID) has not yet released its Q3 delivery report, causing investor anxiety as its stock trades near record lows. The company has faced production issues and lukewarm demand for its higher-priced EVs due to economic uncertainties and aggressive price cuts by Tesla. In Q2, Lucid produced 2,173 EVs, down from 2,314 in Q1, and Q3 deliveries were significantly below forecasts at 1,404 units. The company revised its 2023 production guidance to over 10,000 units due to these challenges.

Portfolio Pulse from Shanthi Rexaline

October 13, 2023 | 10:00 am

Automobile stocks are trading lower due to overall market weakness and a rise in Treasury yields following CPI data.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:35 pm

According to the EIA Administrator, electric vehicle sales are projected to reach 2 billion by 2050. Meanwhile, sales of internal combustion engine vehicles are expected to peak between 2027 and 2033.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:03 pm

Shares of EV stocks are trading higher as Treasury yields drop amid the Israel-Hamas conflict. The stocks mentioned include ARVL, FSR, GGR, LCID, NWTN, PSNY, and VFS.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 7:48 pm

U.S. stocks are expected to start cautiously on Tuesday, with modestly higher stock futures and PepsiCo's strong Q3 report boosting expectations for a positive earnings season. Bond yields continue to ease as traders expect a pause at the Federal Reserve's rate-setting meeting. However, upcoming inflation reports could keep sentiment guarded. Stocks advanced on Monday, with all S&P 500 sectors gaining ground. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF rose in premarket trading on Tuesday.

Portfolio Pulse from Shanthi Rexaline

October 10, 2023 | 11:27 am

Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower, down more than 11% over the last five days and 22% over the last month. This comes as Lucid's EV competitor Tesla, Inc. (NASDAQ:TSLA) continues to roll out large price reductions on its EVs. Lucid is also attracting the attention of short-sellers and retail investors, with 17.47% of available shares being sold short.

Portfolio Pulse from Erica Kollmann

October 09, 2023 | 5:32 pm

The week ending Oct. 6 saw a downturn in electric vehicle (EV) stocks, with Tesla reporting lower than expected Q3 deliveries but affirming its full-year goal. Tesla also announced price cuts for its Model Y and Model 3 EVs. Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering. Lucid launched a cheaper version of its Air sedan. Ford reported higher Q3 EV sales than General Motors. Faraday Future announced plans to deliver another premium EV. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 07, 2023 | 2:56 pm

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have revamped the $7,500 EV tax credit system, making the savings immediate rather than waiting for a tax return. This applies to both new and previously owned clean vehicles. Dealers must register via a new IRS portal called Energy Credits Online to facilitate the transaction. The new rule is expected to boost the electric vehicle market in the U.S. Shares of Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN), and Lucid Group Inc (NASDAQ:LCID) saw a lift after the Treasury Department issued its new guidance.

Portfolio Pulse from AJ Fabino

October 06, 2023 | 4:27 pm

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