Lucid Motors Inc. ($LCID) Stock Forecast: Up 9.1% Today

What is Lucid Motors Inc.?

Lucid Group (LCID) is a luxury electric vehicle (EV) manufacturer recognized for its high-performance and creative designs. The EV industry is currently challenged by increasing competition and concerns regarding EV adoption rates.

Why is Lucid Motors Inc. going up?

LCID stock is up 9.1% on Jul 3, 2024 17:36

• Despite encountering difficulties and a notable decrease in its stock value, Lucid Group (LCID) saw a positive movement in its stock price today.
• The resolution of a trademark dispute with charging equipment manufacturer Gravity had a favorable impact on LCID stock.
• The settlement eliminated a potential distraction for investors, allowing management to concentrate on navigating the competitive EV market.
• This positive development, in combination with the company's ongoing product innovations, is likely responsible for the bullish movement in LCID stock today.

LCID Price Chart

LCID News

RIVN, LCID or MULN: Which EV Stock Will Crash First?

The electric vehicle industry is in turmoil. On the one hand, EV sales are booming with volumes expected to rise 21% this year. Still, the rate of growth is declining. Fewer new car buyers are electing to choose EVs when purchasing a vehicle. Pricing is certainly still an issue facing EV stocks but it is really a lack of trust in EVs themselves that is hurting sales. Not for safety reasons but rather it is a lack of charging infrastructure. Because battery range is still a concern, consumers are choosing the reliability and availability of gas-powered vehicles. It is why hybrid EV sales are taking off. Toyota (NYSE: TM ) saw massive growth in its hybrid cars ; it sold some 3.4 million last year, and now other manufacturers, notably Ford (NYSE: F ) and General Motors (NYSE: GM ) are hedging their all-in bets on battery electric vehicles. They are scaling back full-electric production and bringing forward more hybrid cars. That poses a problem for a number of EV manufacturers who only came to market relatively recently and are trying to gain traction.

https://investorplace.com/2024/07/rivn-lcid-or-muln-which-ev-stock-will-crash-first/

3 EV Stocks to Sell in July Before They Crash & Burn

In March, a CNBC article suggested that the electric vehicle (EV) euphoria is dead. The piece reported facts that indicated that many automotive majors are scaling back their EV plans. I completed agree with the point that the euphoria is dead. However, it’s equally important to understand that the industry is not dead. EV adoption might not have been as expected, but the trend is likely to be towards higher EV sales in the coming years. Nevertheless, intense competition remains in the industry, and not all EV companies will survive. There will be failures and industry consolidation in the next few years. The companies that survive will emerge stronger. However, let’s explore the EV stocks to sell that represent fundamentally weak companies. In my view, these EV companies will continue to struggle while the stock is likely to trend lower. Let’s discuss the reasons to be bearish.

https://investorplace.com/2024/07/3-ev-stocks-to-sell-in-july-before-they-crash-burn/

Lucid Stock: The Contrarian Buy of the Decade or a Spectacular Flop?

Lucid Group (NASDAQ:LCID) has lost 37% of its value in 2024. However, that’s not the worst result for Lucid stock, which is down 95% since hitting its all-time high over $55 in November 2021.  If you’ve followed the luxury EV maker’s struggles to grow its business without losing hundreds of millions of dollars, you know that it hasn’t been very successful. In the quarter ended March 31, Lucid lost $685 million on revenue of $173 million. However, with a glass-half-full view of the quarter, its negative cash flow fell by 36% to $517 million. Lucid has remained in business primarily because of the financial investments by Saudi Arabia’s Public Investment Fund (PIF), the government’s sovereign wealth fund, which owned 1.37 billion shares as of March 31, representing 59.6% of the company.  On March 25, PIF purchased $1 billion in newly created convertible preferred stock, which Lucid used for capital expenditures and working capital. The 100,000 Series A Convertible Preferred Stock could be converted into approximately 278.1 million shares at a conversion price of $3.5952 per share. It can’t convert any of the preferred shares until March 2025. As a result of this investment, PIF’s stake increased to 63.95%.  So, why doesn’t PIF take Lucid private? Here are the pros and cons of doing so.

https://investorplace.com/2024/07/lucid-stock-the-contrarian-buy-of-the-decade-or-a-spectacular-flop/

Faraday Future’s Big Gamble: Why FFIE Stock Could Crash to Zero

In order to introduce a successful product to market, there must first be demand for it. That’s the main challenge facing premium electric-vehicle manufacturer Faraday Future (NASDAQ:FFIE). Amid a crowded field that’s becoming even more saturated, credit must be given where it’s due: the company is going the ultimate contrarian route, raising prices when it should be lowering them. Still, contrarianism alone may not save Faraday Future stock. I’m not going to leave you in suspense. Without a fundamental change to the business, I believe the ultimate trajectory of FFIE is zero. To be clear, I’m not stating that to be contrarian myself or to deliver a shocking statement for its own sake. Rather, the underlying business model has to make sense. I don’t see evidence that it does. Therefore, I am bearish on Faraday Future stock.

https://investorplace.com/2024/07/faraday-futures-big-gamble-why-ffie-stock-could-crash-to-zero/

LCID Stock Alert: Lucid Motors Settles Trademark Dispute

Shares of electric vehicle (EV) manufacturer Lucid Group (NASDAQ:LCID) — which does business under Lucid Motors — jumped slightly higher on Monday. Late last week, the premium EV specialist settled a trademark dispute with charging equipment manufacturer Gravity. With at least one distraction out of the way for LCID stock, management can concentrate on competing in a hotly contested arena. Fundamentally, the issue centered on impinging on a preexisting trademark. Lucid intends to launch a new luxury SUV called the Gravity. According to the company’s website, the Gravity will feature a range of up to 440 miles. It also offers seating for seven, and with over 800 horsepower, the SUV can launch itself to 60 miles per hour from a standstill in under 3.5 seconds. However, the EV maker’s use of “Lucid Gravity” clashed with Gravity’s own brand identity. Adding to the confusion, Gravity, the company, specializes in EV charging equipment. Therefore, the two entities operate in similar fields. However, as Matt Everitt, general counsel at Lucid pointed out, the two companies reached an agreement. Gravity CEO Moshe Cohen stated that the matter was handled “amicably.” Therefore, it’s one potential distraction that investors of LCID stock don’t have to worry about.

https://investorplace.com/2024/07/lcid-stock-alert-lucid-motors-settles-trademark-dispute/

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Lucid Motors Inc. Price History

03.06.2024 - LCID Stock was up 6.3%

• In the midst of challenges and financial losses, Lucid Group's stock price experienced significant growth.
• The recent settlement of a trademark dispute with charging equipment manufacturer Gravity served as a positive catalyst for LCID stock, eliminating a potential concern for investors.
• Market response to the trademark resolution appears to be favorable, allowing Lucid to concentrate on competing in the competitive EV industry without legal uncertainties.
• The rise in LCID stock is possibly influenced by investor confidence in the company's future growth potential and anticipated advancements in its product portfolio, including the forthcoming luxury SUV, the Gravity.

28.05.2024 - LCID Stock was up 5.4%

• LCID saw a positive movement today, likely influenced by Volkswagen's recent investment in Rivian, a competitor in the EV market.
• There is speculation that other early-stage EV companies, including LCID, could also receive similar investment opportunities, leading to an increase in LCID's stock price.
• Despite the short-term increase, LCID still faces issues like cash burn and operational difficulties, suggesting that the current positive trend may not be sustainable.
• The impact of Volkswagen's investment in Rivian on LCID's stock price showcases how developments in one EV company can affect others in the industry, highlighting the interconnected nature of the sector.

26.05.2024 - LCID Stock was up 5.3%

• LCID witnessed a significant rise today, soaring by 12% in response to Volkswagen's investment in Rivian.
• Volkswagen's investment in Rivian, a rival in the EV sector, indirectly boosted LCID by highlighting growth potential and investor interest in the industry.
• While LCID's stock saw positive movement, it should be noted that the increase was driven more by general industry news rather than company-specific updates.
• The recent appointment of a new head of Global Communications at Lucid further bolstered market sentiment towards the stock, demonstrating the company's efforts to enhance its leadership team amidst industry developments.

26.05.2024 - LCID Stock was up 5.5%

• Lucid stock showed significant positive momentum today, possibly due to favorable market sentiment and developments in the EV industry.
• The appointment of Nick Twork as Head of Global Communications at Lucid may have boosted investor confidence in the company's strategic communication and growth strategies.
• Recent news about Rivian Automotive Inc. entering a joint venture with Volkswagen could have influenced investor interest in EV stocks like Lucid.
• Despite challenges in the EV industry, Lucid's distinct position and recent advancements appear to have driven its stock price upward.

26.05.2024 - LCID Stock was up 5.3%

• Lucid stock initially traded lower but surged to weekly highs after announcing the appointment of a new head of Global Communications.
• Significant short-seller activity on Lucid stock might have caused some volatility in its price.
• The news about training robots to build the Gravity SUV could have sparked investor optimism about Lucid's production capabilities and future growth potential.
• The overall bearish sentiment towards struggling EV stocks, as seen in the challenges faced by another company, could have influenced the initial downward movement in Lucid's stock price.

14.05.2024 - LCID Stock was down 5.8%

• Lucid stock experienced a strong bearish movement today.
• The bearish trend could be attributed to concerns raised regarding the company's financial health and market performance.
• Issues such as dilution spiral, questionable sales growth sustainability, and being labeled as a meme stock have likely contributed to the negative sentiment surrounding Lucid stock.
• The overall bearish movement in the EV sector may have further impacted Lucid's stock performance today.

13.05.2024 - LCID Stock was down 7.2%

• The bearish movement in Lucid Group (LCID) today can be attributed to the overall market skepticism towards meme stock hype and speculative trading.
• Despite the recent rally in meme stocks, including LCID, driven by social media influencers like Roaring Kitty, the market sentiment is cautious about the sustainability of these price surges.
• Concerns have been raised about the meme stock frenzy potentially leading to inflated prices and eventual corrections, which might have prompted investors to sell off their positions in LCID.
• Investors are advised to be wary of investing in companies driven solely by hype and to carefully assess the underlying fundamentals before making investment decisions in volatile market conditions.

13.05.2024 - LCID Stock was down 5.0%

• The bearish movement in LCID today can be attributed to the overall cautionary tone in the market regarding meme stocks and their sustainability.
• The warning against buying into the hype and hysteria surrounding meme stocks, including Lucid, suggests that the recent rally may not be supported by strong fundamentals.
• The mention of meme stocks potentially causing irrational exuberance and leading to dissipation of gains could have spooked investors, resulting in the bearish movement in LCID.
• With concerns raised about the overvaluation of the EV industry as a whole and the potential downside risks, investors might be taking a more cautious approach towards stocks like Lucid.

07.05.2024 - LCID Stock was down 5.1%

• The recent downturn in LCID may reflect doubts about EV stocks, linked to discussions on adoption rates and industry competition.
• Concerns about Lucid and similar companies not being ideal for long-term investment could have contributed to the bearish sentiment, despite positive industry growth.
• Shareholder approval of Lucid Group's expansion may have been overlooked amidst negative sentiment towards EV stocks, impacting today's trading.
• Comparisons between Rivian (RIVN) and Lucid Group in market discussions might have influenced investor views, potentially affecting LCID's bearish movement as investors assess different EV companies' strengths and weaknesses.

29.04.2024 - LCID Stock was down 5.7%

• LCID experienced a strong bearish movement today following comments made by its CEO, Peter Rawlinson, criticizing rival EV maker Tesla.
• Rawlinson's remarks about Tesla being "distracted" and "losing its way" may have caused concerns among investors about the competitive landscape in the EV industry.
• The negative sentiment towards Tesla's perceived lack of focus and direction could have led to a sell-off in LCID shares as investors reevaluated the company's position in the market.
• The market movement could also be influenced by broader concerns about the EV sector's future growth and competition, leading to a bearish outlook for LCID in the short term.

24.04.2024 - LCID Stock was down 5.4%

• LCID stock experienced a bearish movement today.
• The news of Lucid Group cutting its U.S. workforce by 6% due to softening EV demand likely contributed to the negative market sentiment.
• The slowdown in EV markets is impacting battery and EV-related stocks, including LCID.
• Despite the near-term challenges, the long-term outlook for battery stocks and green energy remains positive, driven by the global shift towards sustainability.

24.04.2024 - LCID Stock was down 5.4%

• A 6% reduction in the workforce was announced by Lucid Group to cut 400 jobs as part of a restructuring plan to lower costs.
• The market responded negatively to this announcement, resulting in a bearish movement in LCID stock.
• The decision to streamline operations before a critical SUV launch might be viewed as a strategic move, but there could be investor concerns about its impact on the company's growth and ability to meet production targets.
• The broader context of EV market dynamics, including concerns about demand similar to those highlighted by Tesla, might have contributed to the downward pressure on Lucid's stock price.