Why Lucid Stock Slumped in March and Continues to Fall [Yahoo! Finance]
Lucid Group, Inc. (LCID)
Company Research
Source: Yahoo! Finance
dwindling margins because of a global slowdown in demand growth for EVs. The timing couldn't be any worse for Lucid, which was already struggling with production and sales. Understandably, that has been reflected in its share price -- the electric car stock lost 13.6% in March alone and is now down almost 38% this year, according to data provided by S&P Global Market Intelligence Ironically, in March, investors were reminded of a solid advantage Lucid has over its peers -- the backing of the government of Saudi Arabia. Even so, there's a reason why the EV stock still fell last month and is already down another 6.5% in April. Lucid's production and sales woes Last month, Lucid struck an agreement with an affiliate of Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), to raise funding of $1 billion. That affiliate, Ayar Third Investment Company, will buy $1 billion in convertible preferred stock. PIF is already a major stakeholder in Lucid Group with a 59.8%
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LCID
News
- Lucid (LCID) to Report Q1 Earnings: Here's What to Expect [Yahoo! Finance]Yahoo! Finance
- Where Will Lucid Motors Stock Be in 5 Years? [Yahoo! Finance]Yahoo! Finance
- Lucid Q1 Preview: Business Model Doesn't Look Sustainable [Seeking Alpha]Seeking Alpha
- Should You Buy Lucid Stock Before May 6? [Yahoo! Finance]Yahoo! Finance
- Is Lucid a Chinese Company? [Yahoo! Finance]Yahoo! Finance
LCID
Earnings
- 2/21/24 - Miss
LCID
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/25/24 - Form DEFA14A
- LCID's page on the SEC website