Lucid Group (LCID) saw a modest increase of 0.73% today, closing at $2.77 after opening at $2.74. The stock experienced a high of $2.78 and a low of $2.64, with trading volume at 75.67% of its average. The slight uptick in LCID's stock price can be attributed to the announcement of Lucid Gravity's access to Tesla's Supercharger network starting January 31st, as detailed in a press release on January 28th. This development enhances the charging convenience for Lucid Gravity, allowing it to charge at up to 400 kW and adding 200 miles of range in under 12 minutes. The integration of Tesla's charging infrastructure is seen as a significant step for Lucid, potentially boosting its competitive edge in the EV market.
Additionally, Lucid announced the appointment of Taoufiq Boussaid as the new CFO, effective February 25th, which may have contributed to investor optimism. Boussaid's extensive experience in strategic finance and operational transformation is expected to align with Lucid's growth objectives as it ramps up production of the Lucid Gravity SUV. Despite these positive developments, the stock remains near its 52-week low, reflecting ongoing investor caution.
On social media, discussions highlighted the potential of Lucid's strategic moves, with one user noting, "Lucid Gravity offers next-level fast charging speeds and seamless access to the top charging networks including Tesla Superchargers." Another user expressed optimism about the company's future, stating, "I like the stock. I think it’s struggled financially but will ultimately come out on top with streamlined production, better brand recognition, and financial backing by the Saudis."