Lucid Group (LCID) saw a positive trading session on January 6th, closing at $3.33, up 1.22% from the previous close of $3.29. The stock opened at $3.60, reaching a high of $3.64 before settling lower, with a significant trading volume of 120,596,552 shares, 153.91% of the average. The upward momentum was primarily driven by the company's announcement of its Q4 production and delivery numbers, which exceeded expectations. Lucid produced 3,386 vehicles and delivered 3,099, surpassing analyst estimates of 2,637 deliveries. This performance marked an 11% q/q increase and a 78% y/y jump in deliveries, signaling strong operational efficiency and consumer demand.
The market's positive response was further supported by Lucid's strategic initiatives, including price cuts and attractive financing offers, which boosted deliveries. The anticipation of the upcoming Gravity SUV, aimed at competing with Rivian and Tesla, also contributed to investor optimism. Additionally, Lucid's recent $1.75 billion stock sale in October has extended its financial runway into 2026, providing stability for future expansion.
Social media sentiment on platforms like Stocktwits turned bullish, with users expressing optimism about Lucid's growth prospects and potential stock price increases. Some users speculated that the stock could reach $5 by the end of the week, buoyed by strong demand for the Gravity SUV and Tesla's recent delivery miss.