Lucid Group Inc (NASDAQ:LCID) stock hit a new all-time low on Friday, capping a volatile week defined by disappointing third-quarter financial results, executive turnover and debt restructuring efforts. Here’s what investors need to know.
- LCID is testing critical support. Watch the momentum here.
What To Know: The sell-off was triggered by the company’s Nov. 5 third-quarter earnings report, where the luxury EV maker posted an adjusted loss of $2.65 per share, wider than the consensus estimate of a $2.27 loss.
Revenue also fell short of forecasts at $336.6 million, despite the delivery of 4,078 vehicles. Investor sentiment was further dampened by the sudden departure of Eric Bach, Senior Vice President of Product and Chief Engineer, amid a corporate reorganization.
Adding to the downward pressure, Lucid announced an $875 million offering of convertible senior notes due 2031 earlier in the week. While management intends to use the proceeds to retire 2026 debt and ostensibly secure the balance sheet, bolstered by a total liquidity position of $5.5 billion, markets reacted negatively to the potential for shareholder dilution.
The lack of an updated 2025 production forecast left investors wary, driving shares to record lows.
Benzinga Edge Rankings: Reflecting this weakness, Benzinga Edge rankings currently show negative price trends across all time horizons alongside a Momentum score of 9.52.
LCID Price Action: Lucid Group shares were down 4.48% at $14.49 at the time of publication on Friday, according to Benzinga Pro data.
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How To Buy LCID Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Lucid Group’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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