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

RBC Capital analyst Tom Narayan has initiated coverage on Lucid Gr (NASDAQ:LCID) with a Sector Perform rating and a price target of $6.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:13 pm

Lucid Motors (NASDAQ:LCID) is planning to expand into the Chinese EV market and introduce mass-market electric vehicle models. The company has not yet established a timeline for this expansion. Lucid is also planning to expand its product range into lower-price categories, with a mid-sized car model potentially unveiled by 2026. This comes amid a difficult period for Lucid, which cut about 18% of its workforce in March due to declining demand and reported increasing net losses for the second quarter.

Portfolio Pulse from Benzinga Neuro

September 07, 2023 | 3:16 am

Shares of Lucid Group are trading lower as electric vehicle (EV) stocks experience a downturn amid weakness in growth names.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 7:37 pm

Lucid Group Inc's shares are trading lower due to overall market weakness, exacerbated by high oil prices and rising Treasury yields. The rising yields may increase Lucid's borrowing costs if it needs to raise capital through debt issuance. The shift of investors from riskier assets like growth stocks to safer assets like bonds can lead to selling pressure on growth stocks, causing their prices to fall.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:42 pm

Lucid Group Inc's CEO, Peter Rawlinson, has expressed intentions to develop an electric vehicle (EV) priced around $50,000, aiming to compete with Tesla's Model 3 and Model Y. Rawlinson emphasized the need for more affordable EVs to increase their adoption. However, he clarified that Lucid is not trying to 'dethrone' Tesla, acknowledging the market for great cars as a whole.

Portfolio Pulse from Anan Ashraf

September 06, 2023 | 9:25 am

Baird analyst Ben Kallo has initiated coverage on Lucid Gr (NASDAQ:LCID) with a Neutral rating and a price target of $7.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:49 am

Lucid Group Inc's CEO, Peter Rawlinson, was the highest-paid automotive CEO in 2022, with a total compensation of $379 million. This is 11 times more than General Motors Co's CEO, Mary Barra, and significantly more than Ford Motor Co's CEO, James Farley. Tesla Inc's CEO, Elon Musk, responded to this news by cautioning against companies where leadership compensation is not linked to performance. In 2022, Lucid produced 7,180 vehicles and reported an annual revenue of over $608 million.

Portfolio Pulse from Anan Ashraf

September 05, 2023 | 6:21 am

Lucid Group Inc (NASDAQ:LCID) is set to debut its new limited production configuration of the Lucid Air, the Lucid Air Midnight Dream Edition, at the International Motor Show (IAA Mobility) in Munich. The vehicle, however, will only be available in Europe. Lucid will also start production of another limited-production vehicle, the Air Sapphire, in September and start customer deliveries in October.

Portfolio Pulse from Anan Ashraf

September 05, 2023 | 3:58 am

Tesla has cut prices of its Model 3, Model S, and Model X vehicles in the U.S. and Canada, triggering negative reactions from investors and analysts. The company also launched the Model 3 refresh in Asia and Europe. Fisker announced additional details of its affordable PEAR EV and expansion into three more European markets. Chinese EV companies Nio, XPeng, and Li Auto reported strong August sales. VinFast's shares plunged after a strong start. Canoo named a new CFO.

Portfolio Pulse from Shanthi Rexaline

September 02, 2023 | 2:02 pm

Electric vehicle (EV) stocks had a mixed performance in the week ended Aug. 25. Tesla's stock rose by 10.72% following Elon Musk's Cybertruck teasers and the upcoming launch of the refreshed Model 3 vehicle. Lucid Group's price cuts have been well received by customers and the market, according to CEO Peter Rawlinson. Polestar Automotive achieved a production milestone of 150,000 vehicles and announced a partnership with Mobileye Global for autonomous driving technology. Ford is offering incentives and lease options for its Mach-E crossover SUV EV in the U.S. Faraday Future effected a 1-for-80 reverse stock split.

Portfolio Pulse from Shanthi Rexaline

August 26, 2023 | 2:56 pm

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