n a rollercoaster ride, Lucid Group Inc. (LCID) stock witnessed a volatile 24 hours, swinging from a dip of 10% on Tuesday to a surge of 6.40% on Wednesday. The stock’s wild swings were triggered by two major events: the departure of Chief Financial Officer Sherry House and the announcement of the company’s production milestone of assembling nearly 800 vehicles in its Saudi plant.
While House’s resignation raised concerns about Lucid’s financial stability and growth prospects, news of the company’s production progress and its ability to meet ambitious targets provided investors with a glimmer of hope. The positive sentiment surrounding Lucid’s production milestone helped to offset the negative impact of House’s departure and sent the stock soaring.
The company’s ability to maintain this momentum in the days to come will be crucial for Lucid to restore investor confidence and ensure its long-term success.
Lucid (LCID) stock Dip -10% Yesterday as EV maker loses key executive
Lucid’s stock (LCID) did experience a significant drop in value following the news of CFO Sherry House’s departure from the company. On Tuesday, December 12, 2023, Lucid’s stock price fell by nearly 10% in response to the news of House’s resignation. This decline reflects the concerns of investors that House’s departure could have a negative impact on Lucid’s financial stability and growth prospects.
House’s resignation comes at a time when Lucid is facing some challenges, including rising costs, supply chain disruptions, and increased competition from other EV makers. These challenges could make it more difficult for Lucid to achieve its financial goals and could put pressure on its stock price in the near term.
However, it is important to note that House’s departure does not necessarily mean that Lucid is doomed. The company has a strong team in place and has a number of promising products in the pipeline. Moreover, the EV market is still growing rapidly, and there is still plenty of room for Lucid to succeed.
Overall, the impact of House’s departure on Lucid’s stock price is likely to be temporary. Investors will need to monitor the company’s performance in the coming months to determine whether this setback is a sign of deeper problems or just a temporary blip.
Today Lucid (LCID) stock increased +6.40% as Today Announced assembled near 800 cars in Saudi plant
Lucid stock (LCID) did experience a significant increase in value following the news of the company’s production milestone. On Wednesday, December 13, 2023, Lucid’s stock price increased by nearly 6.4% in response to the news that the company had assembled nearly 800 cars in its Saudi plant. This increase is likely due to the positive sentiment surrounding Lucid’s production progress and the company’s potential to meet its ambitious production targets.
The news of Lucid’s production milestone is a welcome development for the company, which has been facing some challenges in recent months. The company’s stock price has been volatile, and it has faced criticism for its slow production ramp-up. However, the company’s recent announcement suggests that it is making progress on the production front, which could help to improve investor confidence and boost the stock price.
Overall, the increase in Lucid stock price is a positive development for the company. It suggests that investors are optimistic about Lucid’s future and believe that the company is on track to achieve its production goals. The company’s production milestone is a significant achievement, and it will be important for Lucid to maintain this momentum in the months to come.
Lucid’s Gravity electric SUV: availability won’t be until 2025
Lucid’s Gravity electric SUV is expected to have a maximum range of over 440 miles, making it a very competitive option in the luxury electric SUV segment. However, availability won’t be until 2025, and it’s likely to have a base price of around $80,000. This means that it will be positioned as a premium offering, targeting affluent consumers who are willing to pay a premium for cutting-edge technology, luxury amenities, and long range.
Here’s a summary of the key points about the Lucid Gravity:
- Range: Over 440 miles
- Power: Over 800 horsepower
- Seating: Up to 7
- 0-60 mph: Under 3.5 seconds
- Availability: Late 2024
- Base Price: Around $80,000
