From NASDAQ: 2024-11-12 09:31:00

Lucid Group’s stock, LCID, hit a 52-week low before rallying 16% post third-quarter results. Despite a wider loss, revenues exceeded estimates. The upcoming Gravity SUV and participation in California Highway Patrol tests have renewed investor confidence. With a major shareholder in Saudi PIF and strong liquidity, Lucid’s growth prospects appear promising.
Lucid delivered 2,781 vehicles in Q3, up 91% YoY, marking record deliveries for the third consecutive quarter. Revenues of $200.4 million surpassed estimates. The company reaffirmed its annual production target of 9,000 units but will need to ramp up production to meet delivery goals. Lucid exited Q3 with around $5.16 billion in total liquidity.
Lucid is betting on its Gravity SUV to be a game-changer in the North American EV market. Pre-orders for the SUV started, with two models available at different price points. Lucid also aims to expand into law enforcement fleets and has strong financial backing from Saudi PIF. The company’s recent capital raise extends its financial runway into 2026.
Lucid’s stock has declined significantly from its all-time high, reflecting a cooling off of its premium valuation. The EV market has become more competitive, with legacy automakers entering the luxury EV space. Despite challenges, Lucid has shown progress with new models and strong financial support, offering a potential buying opportunity for investors.
With shares down, current valuations may present a buying opportunity for investors who believe in Lucid’s strategic initiatives. The company’s recent developments and projected sales growth indicate confidence in its potential. Investors willing to balance risks with rewards may find now to be the right time to invest in Lucid.



Read more at NASDAQ: LCID Stock Rises 16% From 52-Week Low: Is it a Smart Buy Now?