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

Tesla investor Ross Gerber expressed admiration for BMW's latest electric vehicle, the i7, and suggested it could pose a significant challenge to Lucid Motors. BMW recently launched an updated lineup of security vehicles, including the i7 Protection, the first-ever all-electric armored sedan globally. The i7's electric drive system aligns with BMW's sustainability goals.

Portfolio Pulse from Benzinga Neuro

August 14, 2023 | 6:36 am

The week ending August 1 saw a downturn in electric vehicle (EV) stocks due to inflation worries and earnings news. Key events included the resignation of Tesla's CFO Zachary Kirkhorn, PepsiCo's endorsement of Tesla's Semi, and Elon Musk's announcement of a 'mind-blowing' full-self driving software update. General Motors' pricing strategy for its new Cadillac EV was criticized, while Rivian and Lucid reported earnings. GM's Cruise and Alphabet's Waymo received approval for expanded driverless operations in San Francisco. Nio denied rumors of a partnership with Mercedes-Benz.

Portfolio Pulse from Shanthi Rexaline

August 12, 2023 | 1:30 pm

Exane BNP Paribas analyst James Picariello has downgraded Lucid Gr (NASDAQ:LCID) from Neutral to Underperform and lowered the price target from $6.5 to $5.

Portfolio Pulse from richadhand@benzinga.com

August 11, 2023 | 2:15 pm

Lucid Group Inc's shares are trading lower by 4.17% despite no company-specific news. The stock is pulling back after the company reported Q2 financial results and confirmed it is on track to achieve its 2023 production target. Lucid's Q2 revenue was $150.9 million, falling short of the estimated $201.9 million. The company also incurred a loss of 40 cents per share, exceeding the anticipated loss of 35 cents.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 3:44 pm

Goldman Sachs has highlighted several stocks as potential 'earnings-day short squeezes', including Lucid Group (LCID), Celsius Holdings (CELH), and Plug Power (PLUG). Lucid and Celsius have already reported, with Lucid's stock jumping 12.16% despite missing estimates, and Celsius' stock rising approximately 20% after strong quarterly results. Plug Power, which has missed bottom-line estimates for nine straight quarters, is set to report its Q2 results and could potentially experience a short squeeze due to its high short interest of 21.34%.

Portfolio Pulse from Adam Eckert

August 09, 2023 | 6:05 pm

Lucid Group Inc's shares are trading lower by 3.89% amid overall market weakness and after the company reported Q2 financial results. The company's revenue of $150.9 million fell short of the estimated $201.9 million and it incurred a loss of 40 cents per share, exceeding the anticipated loss of 35 cents. However, Lucid is on track to achieve its 2023 production target and announced the final production specifications for the Lucid Air Sapphire.

Portfolio Pulse from Henry Khederian

August 09, 2023 | 5:58 pm

Benzinga's options activity scanner has identified unusual options activity in the Consumer Discretionary sector. Notable stocks include Tesla (TSLA), H&R Block (HRB), NIO Inc. (NIO), Lucid Group (LCID), XPeng Inc. (XPEV), Six Flags Entertainment (SIX), Airbnb (ABNB), Li Auto (LI), Wayfair (W), and GGR. The activity includes both bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 5:35 pm

An option alert has been issued for Lucid Group (LCID) for November 17 $8 calls. The sweep is near the ask with 1255 contracts at $0.77 versus an open interest of 9195. The reference price is $6.9299.

Portfolio Pulse from Charles Gross

August 09, 2023 | 4:47 pm

Citigroup analyst Itay Michaeli has maintained a Neutral rating on Lucid Group (NASDAQ:LCID) and lowered the price target from $8 to $7.5.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 4:24 pm

Lucid Motors (NASDAQ:LCID) reported a loss of over $500,000 per vehicle sold in its Q2 earnings, with a net loss of about $764 million. Despite this, analysts remain hopeful about the company's prospects. Following the announcement of price reductions, Lucid's shares surged over 6% on Tuesday. Traditional automakers like Ford (NYSE:F) and General Motors (NYSE:GM) are also grappling with profit losses as they transition to EVs.

Portfolio Pulse from Benzinga Neuro

August 09, 2023 | 10:02 am

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