Electric vehicle (EV) maker Lucid Group (LCID) hit a 52-week low of $2.02/share last Wednesday. Since then, this penny stock has rallied roughly 16%. The company’s third-quarter results (released last Thursday) were somewhat mixed. While Lucid incurred a wider-than-expected loss in the quarter, revenues surpassed estimates. But what seems to have renewed investor confidence in the stock is the opening up of the order book for its new offering ­— Gravity SUV. Additionally, LCID posted on X yesterday that its ...

Lucid Group, Inc. (NASDAQ: LCID ) makes an excellent vehicle. Its top-end model, the Air Sapphire edition, packs over 1,200 horsepower , over 500 miles of range, and can jet from zero to sixty in about 1.9 seconds. Incredible!Are You Getting The Returns You Want? Invest alongside the Financial Prophet's All-Weather Portfolio (2023 47% return) and achieve optimal results in any market.The Daily Prophet Report provides crucial information before the opening bell rings each morning.Implement my Covered Call Di ...

Lucid Group, Inc. (NASDAQ: LCID ) submitted its third-quarter earnings sheet last Thursday, and the electric vehicle (“EV”) company beat bottom and top-line expectations. The EV maker saw a decent Q3 ’24 ramp in terms of deliveries as well, but Lucid did notAnalyst’s Disclosure: I/we have a beneficial long position in the shares of TSLA, RIVN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (o ...

Shares in this EV maker are dirt cheap. Is it time to buy?When looking for a stock with millionaire-maker potential, I typically gravitate toward companies with small valuations, rapid growth, and a pathway to profitability. With shares down by a whopping 97% from their all-time high of $58 (reached in early 2021), Lucid Group (LCID -0.45%) meets at least one of these criteria. But what about the others? Let's dig deeper into the pros and cons of this embattled electric automaker. What happened to Lucid's o ...

Lucid Group Inc. LCID is betting big on its upcoming Gravity SUV to capture a broader slice of the electric vehicle (EV) market, but it's a cautious play for investors. Needham's Chris Pierce reaffirmed a Hold rating on LCID stock, highlighting promising delivery gains while flagging concerns over long-term profitability and further dilution risks.Chart created using Benzinga ProLucid’s Rising Deliveries, Falling MarginsLucid's latest earnings report spotlighted a third consecutive quarter of record deliver ...

Lucid's losses keep getting bigger, and it continues to sell shares to raise money.October turned out to be the worst month of 2024 so far for Lucid Group (LCID -2.03%), with the electric vehicle (EV) stock crashing 37.4%, according to data provided by S&P Global Market Intelligence.Investors got a shock when Lucid announced plans to sell shares to raise money, even as its production and delivery numbers continued to disappoint. With Lucid just reporting a significantly large loss for the third quarter, the ...

Tesla may not be the cheapest EV stock, but at least it's earning a profit.Friday is looking like it's going to be a busy day for investors in electric vehicles, with Rivian Automotive (RIVN 0.70%) and Lucid Group (LCID -0.91%) both having reported earnings last night, and Tesla (TSLA 6.76%) stock reacting to the news from its rivals.Earlier today, Lucid stock was up 6%, though around noon ET it was negative on the day. Similarly, Rivian was up 4.8% earlier but had dipped down to a 0.80% gain. Surprisingly, ...

After the bell on Thursday, we received third quarter results from Lucid Group, Inc. (NASDAQ: LCID ). The luxury electric vehicle maker has been one of the most disappointing names in the market since going publicI am a market enthusiast and part-time trader. I started writing for Seeking Alpha in 2011, and it has been a tremendous opportunity and learning experience. I have been interested in the markets since elementary school, and hope to pursue a career in the investment management industry. I have been ...

Financial Data and Key Metrics Changes - In Q3 2024, Lucid Group reported revenue of approximately $200 million, up 45.2% year-over-year and flat sequentially [31] - The company delivered 2,781 vehicles, representing a 91% increase year-over-year and a 16% increase sequentially [10][30] - GAAP gross margin improved by 28 percentage points sequentially, driven by cost reduction initiatives [32] - The adjusted EBITDA loss was $613.1 million, an improvement from $647.6 million in Q2 [38] Business Line Data and Key Metrics Changes - The company produced 1,805 vehicles in Q3 and reaffirmed guidance to produce approximately 9,000 vehicles for the full year 2024 [30][41] - The Lucid Air outsold many competitors in both the electric and gas vehicle markets in September [11] - The Lucid Gravity SUV has opened for orders, with significant interest noted from customers [22][23] Market Data and Key Metrics Changes - Lucid's brand awareness reached an all-time high in Q3, contributing to increased delivery numbers [11] - The company noted a 70% increase in foot traffic at studios during the Lucid Gravity Roadshow events [23] Company Strategy and Development Direction - The company raised approximately $1.75 billion through a public offering to support its strategic initiatives and maintain financial runway into 2026 [8][39] - Lucid aims to leverage its technology and scale to enhance gross margins and drive long-term shareholder value [48][50] - The upcoming Lucid Gravity is expected to enter a significantly larger addressable market compared to the Lucid Air [49][50] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenging market conditions impacting share price but expressed confidence in the company's strategic direction and long-term potential [46][48] - The company is focused on cost transformation initiatives and anticipates improved operational efficiency and profitability [43][50] Other Important Information - The Lucid Air received a five-star safety rating from the National Highway Traffic Safety Administration [19][21] - The company plans to strategically expand its studio and service center footprint to enhance customer satisfaction [36] Q&A Session Summary Question: What do you have to say to early investors about the share price? - Management acknowledged market challenges but emphasized ongoing initiatives to drive growth and improve financial performance [46][48] Question: Do you plan to offer a more affordable vehicle? - Management confirmed plans for a midsized vehicle with a target price of $48,000 to $50,000, scheduled for production in late 2026 [54][55] Question: What are the chances of the Saudis buying out Lucid completely? - Management highlighted the strong partnership with the Public Investment Fund but did not comment on potential buyout scenarios [56] Question: Can you reach positive margins for the Air and Gravity? - Management expressed confidence in achieving positive margins for both models, citing significant reuse of powertrain technology [57][58] Question: What is the anticipated unit mix for next year with Gravity ramping up? - Management indicated a focus on high-end Gravity models first, with a transition to lower-priced models as production ramps up [74][75] Question: What are the working capital implications for next year as you ramp Gravity? - Management stated that funding will support operations well into 2026, with ongoing cost reduction initiatives in place [90][92]

Lucid Group (LCID) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.32. This compares to loss of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -28.13%. A quarter ago, it was expected that this an electric vehicle automaker would post a loss of $0.27 per share when it actually produced a loss of $0.29, delivering a surprise of -7.41%.Over the last four quarters, the c ...