Why Lucid Stock Crashed 37.4% in October and Just Hit Its 52-Week Low [Yahoo! Finance]
Lucid Group, Inc. (LCID)
Company Research
Source: Yahoo! Finance
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 stock hit its 52-week low of $2.02 a share on Nov. 6. The only hope remaining now for Lucid, and its investors, is its Gravity SUV. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » In mid-October, Lucid announced plans to a little over 262 million shares to raise funds. It also announced an agreement to sell another 375 million shares to an affiliate of the Saudi Arabia's sovereign public fund, the Public Investment Fund (PIF). PIF is also the largest stakeholder in Lucid. While Lucid expects to raise nearly $1.7 billion from the total share sale, investors were left wondering why Lucid felt the need to raise more funds barely two months after the PIF committed to a funding of $1.5 billion. Wors
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LCID
News
- Should You Buy Lucid Stock While It's Trading Below $3? [Yahoo! Finance]Yahoo! Finance
- Three Reasons to Avoid LCID and One Stock to Buy Instead [Yahoo! Finance]Yahoo! Finance
- Lucid Group to Participate in the Nasdaq 51st Investor Conference [Yahoo! Finance]Yahoo! Finance
- Lucid Group to Participate in the Nasdaq 51st Investor ConferencePR Newswire
- Where Will Lucid Stock Be in 5 Years? [Yahoo! Finance]Yahoo! Finance
LCID
Earnings
- 11/7/24 - Beat
LCID
Sec Filings
- 12/9/24 - Form 4
- 12/9/24 - Form 4
- 12/9/24 - Form 4
- LCID's page on the SEC website