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

Shares of electric vehicle (EV) stocks are trading higher in sympathy with Tesla after it reported strong Q2 delivery numbers.

Portfolio Pulse from Bill Haddad

July 03, 2023 | 11:14 am

The US stock market is expected to open with caution due to recent strong gains and key events. Despite the Federal Reserve's indication of future rate hikes, the market closed the week, quarter, and half year with solid gains. Analyst Ryan Detrick predicts a strong run for the S&P 500 Index in the second half of the year. In premarket trading, SPDR S&P 500 ETF Trust (SPY) rose 0.14% and the Invesco QQQ ETF (QQQ) gained 0.29%. Tesla (TSLA) rose over 6% after reporting record Q2 deliveries. Digital World Acquisition Corp. (DWAC) gained over 3% amid Twitter's woes.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 11:01 am

Citigroup analyst Itay Michaeli has reinstated Lucid Group (NASDAQ:LCID) with a Neutral rating and announced a price target of $8.

Portfolio Pulse from richadhand@benzinga.com

July 03, 2023 | 8:26 am

The major U.S. stock market indexes each gained over 2% this week, marking a positive end to the second quarter of 2023. Seth Klarman, CEO of Baupost Group, praised Coinbase Global Inc for its smart moves. Apple Inc. is poised for a significant growth renaissance over the next 12 to 18 months, according to Wedbush's Daniel Ives. The recent resurgence of Bitcoin has sparked a surge in meme coins like Pepe, Dogecoin, and Shiba Inu. However, Lucid Group, Inc. and Rivian Automotive, Inc. could face bankruptcy, according to Future Fund managing partner Gary Black. The U.S. government's potential export restrictions on AI chips to China could impact companies like Nvidia Corporation. Brandon Nispel of KeyBanc Capital Markets has downgraded Walt Disney Co. from Overweight to Sector Weight.

Portfolio Pulse from Michael Cohen

July 01, 2023 | 2:50 pm

Lucid Group Inc's (LCID) shares are trading higher by 6.46% after the company announced a partnership with Aston Martin and the Saudi Public Investment Fund increased its stake in the company. The partnership with Aston Martin involves Lucid supplying its electric vehicle powertrain and battery systems in contracts worth over $450 million. Aston Martin will compensate through a combination of shares and phased cash payments.

Portfolio Pulse from Henry Khederian

June 29, 2023 | 6:49 pm

Lucid Group shares are trading higher following the company's recent partnership announcement with Aston Martin. The Saudi Public Investment Fund has also increased its stake in Lucid through a private placement.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 4:10 pm

US stock futures indicate a positive start for Thursday as traders digest the Federal Reserve’s bank stress test results and strong earnings reports. The major averages ended Wednesday on a mixed note, with the Nasdaq Composite and Russell 2000 Index closing higher, while the Dow Industrials and S&P 500 Index retreated. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) rose. Stocks in focus include Virgin Galactic Holdings, Inc. (NYSE:SPCE), BlackBerry Ltd. (NYSE:BB), and Micron Technology, Inc. (NASDAQ:MU) due to their quarterly results.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 11:18 am

Analyst Gary Black has expressed concerns about the future of Lucid Group, Nikola Corp., and Workhorse Group, warning that they could face bankruptcy if they don't make necessary changes. This follows Lordstown's recent Chapter 11 filing. Lucid is struggling to sell its $100,000 EV sedans, while Nikola and Workhorse are facing production and liquidity challenges. Despite these concerns, Lucid's stock saw a 5.25% increase at the end of Wednesday's trading session.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 5:59 am

Lucid Group Inc's shares are trading higher by 4.84% after the company announced a partnership with Aston Martin and an increase in stake by the Saudi Public Investment Fund. The fund acquired 265.7 million shares at a premium price of $6.83 per share, increasing its ownership stake to 60.49%. The partnership with Aston Martin involves Lucid supplying its electric vehicle powertrain and battery systems in contracts worth over $450 million.

Portfolio Pulse from Henry Khederian

June 28, 2023 | 4:47 pm

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 4:23 pm

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