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

Lucid Motors has confirmed that it is on track to meet its 2023 production target of over 10,000 vehicles.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:13 pm

Lucid Gr (NASDAQ:LCID) reported Q2 earnings per share (EPS) of $(0.40), missing the analyst consensus estimate of $(0.35) by 14.29%. This is a 21.21% decrease from the same period last year. The company also reported quarterly sales of $150.87 million, missing the analyst consensus estimate of $201.94 million by 25.29%. However, this is a 55.00% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:12 pm

Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower after the company reduced the prices of its Air Pure sedan. The new starting price is $82,400, a $12,400 reduction from the previous pricing. The company is also set to report second-quarter earnings after the market close Monday, with an expected loss of 35 cents per share and revenue of $201.94 million.

Portfolio Pulse from Ryan Gustafson

August 07, 2023 | 7:57 pm

Lucid Group has reduced the prices of its Air Pure sedan, leading to a decrease in the company's share prices.

Portfolio Pulse from Bill Haddad

August 07, 2023 | 3:07 pm

Lucid Group, Inc. (NYSE:LCID) shares rose in premarket trading on Monday following the company's announcement of price reductions for three trims of its Lucid Air EV. The price cuts, ranging from $10,500 to $12,400, come after a disappointing delivery update in mid-July. Lucid is set to report its Q2 results after trading closes on Monday, with an expected loss of $0.33 per share on revenue of $175.01 million, a 79.80% increase from a year ago.

Portfolio Pulse from Shanthi Rexaline

August 07, 2023 | 11:28 am

Lucid Group, Inc. (NASDAQ:LCID) has announced significant price reductions across its electric vehicle models, with the cheapest model now starting at $82,400, down from $92,900. The company also plans to offer a cheaper Air Pure rear-wheel drive model at $77,400. The price cuts are part of Lucid's larger sales and marketing efforts to drive demand and deliveries. The company is also offering exclusive lease and financing options through Lucid Financial Services. The price cuts come as Lucid struggles with lower-than-expected Q2 production and deliveries and liquidity issues.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 9:22 pm

The week ending August 4 saw mixed results for electric vehicle (EV) stocks, with Tesla's China sales dropping 31% MoM but growing 128% YoY. Tesla also faced a class action lawsuit over exaggerated vehicle range claims and recalled 271 Model S and X vehicles in China. Fisker showcased its future product portfolio, including the world's lightest EV pickup truck, the Fisker Alaska. Nikola announced its fourth CEO transition in four years, with former GM executive Stephen Girsky taking over. GM-EVgo surpassed 1,000 fast-charging stall installations and reported better-than-expected Q2 results. Toyota expressed its intention to compete with domestic rivals in China's EV market.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 12:50 pm

The S&P 500 dropped after Fitch Ratings downgraded the US government's credit rating from AAA to AA+. Treasury yields reached a nine-month high, causing investors to sell equity assets in favor of bonds. Apple's shares fell due to a drop in iPhone sales, while Amazon's shares climbed to a 12-month high after reporting strong Q2 profits. Robinhood, Qualcomm, and PayPal also saw a decrease in share prices, while Starbucks' shares rose due to increased sales in China. Next week, earnings reports from Lucid Group, Eli Lilly and Company, AMC Entertainment, Fox Corp, United Parcel Service, The Walt Disney Company, Sony Group, Alibaba Group, and Novo Nordisk will be closely watched.

Portfolio Pulse from Natan Ponieman

August 04, 2023 | 8:28 pm

Lucid Group, Inc. (NASDAQ:LCID) shares have been volatile due to the upcoming second-quarter earnings report and the recent downgrade of the US credit rating. The company is expected to report a loss of 35 cents and revenue of $201.94 million. The downgrade has created a negative market sentiment, causing a selloff in the growth sector, including EV stocks like Lucid. However, Lucid's stock benefitted from the strength in the EV market last week.

Portfolio Pulse from Ryan Gustafson

August 04, 2023 | 2:25 pm

Shares of EV stocks are trading lower following a downgrade of the US credit rating, which has led to a selloff in the growth sector. The stocks of LCID, PSNY, and RIVN are among those affected.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:56 am

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