Lucid Group, Inc. (LCID) is experiencing a rise in its stock price today, likely driven by the recent announcement of a partnership with SoundHound to integrate Chat AI into a proprietary Lucid Assistant. This collaboration, showcased at the Consumer Electronics Show (CES) in early January, allows the Lucid Assistant to function similarly to popular voice-activated systems like Google's Alexa or Apple's Siri. The integration of this technology is expected to enhance the user experience by providing comprehensive vehicle information and control features, which has generated positive sentiment among investors.
Additionally, Lucid's ongoing production of its Gravity SUV, which began last month, is contributing to the optimistic outlook. The company is on track to exceed its production forecasts, with deliveries already starting for friends and family. This development is seen as a positive indicator of growing demand and potential revenue boosts in the coming quarters. On Reddit, discussions reflect a cautious optimism, with users noting, "Gravity production started so next quarter will show a revenue boost," and expressing long-term confidence in the stock's potential.
Lucid Group's stock is currently trading at $3.09, up 4.39% from the previous close of $2.96. Despite being just 30 minutes into the trading day, the stock has seen a volume of 11,435,450 shares, which is 13.30% of its average daily volume of 85,948,888 shares, indicating moderate trading activity this morning.