Overview
- Shares touched a new low of $11.09 this week, valuing the company near $3.6 billion, before rebounding about 6% Thursday to $11.79.
- Communications chief Nick Twork cited a strong liquidity runway that includes an undrawn $2 billion PIF facility and $2 billion of refinanced convertible notes maturing in 2030 and 2031.
- Interim CEO Marc Winterhoff reiterated that Lucid is funded well into 2027 and will tap capital markets when conditions are favorable.
- The Gravity SUV is expected to account for most fourth-quarter production and sales as management targets 18,000 vehicles for 2025 after building 9,966 through Q3.
- Lucid plans to unveil the first model on its midsize platform in the first half of 2026 with production slated for late 2026 at around a $50,000 starting price, as Morgan Stanley recently downgraded the stock to Underweight with a $10 target on expectations of an EV downturn in 2026.