Yesterday saw an unprecedented surge for Lucid Group (LCID) stock, with gains reaching a record high of up to 45%. The shares of the premium electric vehicle manufacturer spiked significantly during trading on Thursday, eventually closing approximately 36% higher. However, today’s sentiment among investors appears to be more cautious.
This morning, Lucid stocks experienced a dip of up to 8%, following two significant pieces of news released yesterday. However, by 11:50 a.m. ET, the shares have bounced back and are currently maintaining close to their initial value for the day.
Big news for Lucid, or just a head fake?
Yesterday, it was announced that Lucid, a renowned company, has teamed up with the leading ride-sharing service provider, Uber Technologies, as well as self-driving technology pioneer Nuro. The collaboration aims to release at least 20,000 electric vehicles (EVs) from Lucid, starting from next year, which will be dedicated for a high-end robotaxi program specifically designed for Uber’s primary ride-hailing platform.
In simpler terms, the large number of orders for Lucid’s electric vehicles (EV) can be seen as a significant boost for the company. Given that they manufactured approximately 9,000 vehicles last year and aim to produce around 20,000 this year, these orders would add positively to their order book. This comes at a crucial time when the company is looking to increase production volumes. However, it’s important to note that the deployment of these EVs will be stretched over a period of six years.
Uber is investing $300 million to strengthen their partnership, focusing on autonomous luxury electric vehicles within their platform. The Lucid Gravity SUV, equipped with Nuro’s advanced Level 4 self-driving technology, offers a driving range of up to 450 miles per charge. This should lead to cost savings in Uber’s vehicle fleet due to increased efficiency.
Lucid is still high risk
In addition to the recent partnership, Lucid has declared their intention to perform a 1-for-10 reverse share consolidation. This move suggests that Lucid is not currently in a strong position. The company continues to seek a wider customer base for its offerings.
A positive indicator for investors might be an improvement in the projected delivery schedule for 2025, which the company will reveal during its Q2 report on August 5. Until then, the stocks of Lucid Motors could remain stable.
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2025-07-18 22:05