Lucid Group, Inc. is experiencing a positive movement in its stock price today, likely driven by the company's recent announcement of record vehicle deliveries. Lucid 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 company's growth trajectory is gaining attention, with investors optimistic about its potential to become a significant player in the electric vehicle market.
On Reddit, discussions reflect a mix of enthusiasm and caution among investors. Some users are comparing Lucid to an early Tesla, highlighting the company's 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 Group's stock is currently trading at $3.02, up 1.28% from the previous close of $2.98, with a high of $3.06 and a low of $2.90 so far today. Despite being just 30 minutes into the trading day, the stock has seen a volume of 12,794,530 shares, which is 15.36% of its average daily volume of 83,281,018 shares, indicating moderate trading activity this morning.