April 9, 2024
This morning, Lucid Group (LCID; $2.73; E/W) announced it delivered 1,967 vehicles (+13% QoQ and +40% YoY), while producing 1,728 vehicles (-28% QoQ and -25% YoY) during Q1. By comparison, our model called for Q1…
March 26, 2024
Yesterday, Lucid Group (LCID; $2.86; E/W) announced another major investment from its majority stockholder and affiliate of the Public Investment Fund (PIF), Ayar Third Investment Company, which did not come as a major surprise to…
February 22, 2024
Lucid Group (LCID; $3.70; E/W) produced Q4 sales of $157mm (+14% QoQ and -39% YoY) after previously disclosing it delivered 1,734 vehicles in the quarter (+19% QoQ and -10% YoY). By comparison, we were modeling…
January 11, 2024
This morning, Lucid Group (LCID; $3.19; E/W) announced it delivered 1,734 vehicles (+19% QoQ) while producing 2,391 vehicles (+54% QoQ) during Q4. By comparison, our model called for Q4 vehicle deliveries of 1,983 or basically…
December 11, 2023
This evening after the close, we were surprised to see Lucid Group (LCID; $4.61; E/W) announce that Sherry House, is resigning from her position as CFO, effective immediately, to pursue “other opportunities”, especially after recently…
November 20, 2023
Last Thursday (11/16), we attended the launch of Lucid’s (LCID; $4.25; E/W) Gravity at the Los Angeles Auto Show, which expands the company into a much larger market opportunity with an electric sport utility vehicle…
November 8, 2023
We lower our rating on the shares of Lucid Group (LCID; $4.30) from Outperform to Equal-Weight due to our belief that management’s plan for a meaningful commercial ramp has been pushed out by a few…
October 17, 2023
This morning, Lucid Group (LCID; $5.11; O/P) announced it delivered 1,457 vehicles (+4% QoQ) while producing 1,550 vehicles (-29% QoQ) during Q3, which is before considering another 700+ Lucid Air vehicles that are in transit…
August 8, 2023
Lucid Group (LCID; $6.41; O/P) produced Q2 revenues that should have been expected given previously disclosed deliveries, albeit on EBITDA losses that we think hide notable manufacturing cost improvements and further expense discipline. At the…
July 12, 2023
This morning, Lucid Group (LCID; $7.16; O/P) announced it delivered 1,404 vehicles (flat QoQ) during Q2 while producing 2,173 vehicles (-6% QoQ) at its manufacturing facility in Casa Grande, Arizona. By comparison, we were modeling…
July 11, 2023
The shares of Lucid Group (LCID; $7.93; O/P) have now rallied 43% from around record lows since it announced a long-term technology supply agreement with Aston Martin Lagonda (AML.GB; £3.34; NR) on June 26th (“First…
June 26, 2023
This morning, Lucid Group (LCID; $5.55; O/P) announced a long-term strategic technology supply agreement with Aston Martin Lagonda (AML.GB; £3.62; NR), which we think strongly supports the idea that there is significant intrinsic value in…
June 1, 2023
Last night, Lucid Group (LCID; $7.76; O/P) announced it raised ~$3B through the issuance of a combined 439.239mm shares of its common stock through two separate transactions. By comparison, the company’s total shares outstanding were…
May 9, 2023
Lucid Group (LCID; $7.11; O/P) delivered 1,406 vehicles in Q1, which generated $149mm of revenues for the company, as it also produced 2,314 vehicles during the quarter. By comparison, we were modeling Lucid Air sales…
April 14, 2023
Last night (4/13), Lucid Group (LCID; $8.25; O/P) announced it produced 2,314 vehicles during Q1 at its manufacturing facility in Casa Grande, Arizona, which is above the Street’s estimate of ~1,900 but modestly below our…