Lucid Group Inc
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Consumer Discretionary : Automobiles | Mid Cap Value
Company profile

Lucid Group, Inc. is an automotive company, which is focused on designing, developing, manufacturing and selling of electric vehicle (EV), EV powertrains and battery systems in-house using its own equipment and factory. The Company offers at its own geographically distributed retail and service locations and through direct-to-consumer online and retail sales. It also boasts a product roadmap of future vehicle programs and technologies. The Company's focus on in-house technological innovation, vertical integration, and a clean-sheet approach to engineering and design has led to the development of its groundbreaking electric vehicle, the Lucid Air. The Lucid Air is a fully electric sedan that targets post-luxury consumers. The Lucid Air is manufactured at its greenfield electric vehicle manufacturing facility in Casa Grande, Arizona, Advanced Manufacturing Plant-1. It sells vehicles directly to consumers through its retail sales network and through direct online sales.

Closing Price
$9.83
Day's Change
-0.31 (-3.06%)
Bid
--
Ask
--
B/A Size
--
Day's High
10.24
Day's Low
9.57
Volume
(Average)
Volume:
27,314,295

10-day average volume:
25,672,563
27,314,295

Lucid stock falls after $8 billion shelf offering

7:46 am ET August 30, 2022 (MarketWatch)
Print

Shares of Lucid Group Inc. fell 1.2% toward a 2 1/2-month low in premarket trading Tuesday, after the California-based electric vehicle maker filed a shelf offering for $8.0 billion worth of securities. The offering filed late Monday, which represents about 30% of Lucid's market capitalization of $27.05 billion as of Monday's closing stock price, includes the sale of common and preferred stocks, depositary shares representing preferred stock, debt securities, warrants and purchase contracts. In addition, the company said the offering relates to the issuance of up to 44.35 million shares of common stock, valued at $717.1 million as Monday's closing price of $16.17. Lucid's stock has dropped 18.5% over the past three months through Monday, while the S&P 500 has lost 3.1%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

August 30, 2022 07:46 ET (11:46 GMT)

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