Overview
- Stifel’s Stephen Gengaro reduced Lucid’s price target to $17 with a Hold rating, citing expectations the company will need more capital over the next few years.
- Lucid privately placed 7% convertible senior notes due 2031 for roughly $875 million to refinance near‑term maturities and bolster working capital.
- The company missed third‑quarter estimates with about $336.6 million in revenue and an adjusted loss of $2.65 per share while trimming 2025 production guidance to roughly 18,000 vehicles.
- Leadership turnover intensified as reports detailed departures of senior executives including Eric Bach and James Hawkins, bringing C‑suite and VP exits to 14 in under two years.
- Uber’s 13,715,121‑share position, disclosed at $326.3 million on Sept. 30, fell about 40% to roughly $194.8 million over the first six weeks of the fourth quarter as Lucid’s stock slid.