Lucid Group, Inc. (LCID) is seeing a positive movement in its stock price today, likely driven by recent news of its impressive delivery numbers. The company delivered 3,099 vehicles in the last quarter, surpassing analysts' expectations by nearly 500 vehicles, marking a 71% increase in deliveries over the previous year. This achievement has put Lucid over 10,000 vehicle deliveries for the year, setting a new quarterly delivery record for the fourth consecutive quarter. The launch of its first electric SUV, the Gravity, is also contributing to the positive sentiment, as it is expected to drive deliveries higher throughout the year.
On Reddit, discussions reflect a mix of optimism and caution among investors. Some users are comparing Lucid to an early Tesla, highlighting the backing from the Saudi sovereign wealth fund as a stabilizing factor. One user noted, "Lucid's not going anywhere as long as the Saudis are backing them. From what I can tell they have a really long runway before not being profitable is a real problem for their future." However, concerns about the company's financial stability and the potential impact of the incoming administration's stance on EV tax credits are also being discussed.
Lucid's stock is currently trading at $3.02, up 1.34% from the previous close of $2.98. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 12,669,912 shares, which is 15.21% of its average daily volume of 83,281,018 shares.