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

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

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

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