Lucid Stock (LCID) Hits All-Time Low Amid Production Cuts and Funding Concerns
Lucid Group's shares plummeted to a record low after Stifel slashed its price target, reflecting mounting skepticism about the EV maker's financial trajectory. The firm now forecasts $17 per share—a 33% theoretical upside from current levels, but down from its previous $21 target.
Third-quarter losses widened beyond expectations as tariffs and input costs squeezed margins. Production guidance for 2025 was trimmed to a flat 18,000 vehicles, abandoning the prior 18,000-20,000 range. Analysts highlight persistent execution risks, with the Gravity SUV and midsize EV program still lacking clear timelines.
Despite praising Lucid Air's technology, Stifel's Stephen Gengaro flagged multiple headwinds: erratic production output, margin volatility, escalating cash burn, and a hostile interest rate environment. The stock's seven-day losing streak underscores eroding confidence following weak earnings, management reshuffles, and a recent debt offering.
