Lucid Group, Inc. (LCID)
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…
March 29, 2023
Yesterday after the close, Lucid Group (LCID; $7.55; O/P) disclosed in an 8-K, which included an internal memo to employees from CEO and CTO Peter Rawlinson, plans to restructure and subsequently reduce headcount by approximately…
March 27, 2023
We initiate on Lucid Group (LCID: $8.19) with an Outperform and a $11 target. We believe Lucid is at a critical juncture in its ambitious commercial development plans for a luxury branded electric vehicle based…