EV maker Lucid shares drop after CEO's abrupt departure
Lucid Group Inc (NASDAQ:LCID) shares plunged 9.2% on Wednesday morning following the unexpected resignation of CEO Peter Rawlinson and a subsequent downgrade by Bank of America. Rawlinson, who has led the electric vehicle (EV) manufacturer since 2019, announced his immediate departure on Tuesday.
Here's why Lucid stock rallied by 10% yesterday
Despite a significant advantage when it comes to vehicle range, luxury EV maker Lucid has struggled since debuting on the stock market in mid-2021. Ever since late 2023, Lucid stock (NASDAQ: LCID) has failed to climb above a price of $5.
Lucid Loses $3.1 Billion
The Lucid Group Inc. (NASDAQ: LCID) net loss last year was $3.1 billion.
Lucid Group's Q4 Loss Narrower Than Expected, Revenues Rise Y/Y
LCID's fourth-quarter 2024 results reflect strong growth, increased deliveries and higher capital expenditures in EV innovation.
Lucid Group, Inc. (LCID) Q4 2024 Earnings Call Transcript
Lucid Group, Inc. (NASDAQ:LCID ) Q4 2024 Earnings Conference Call February 25, 2025 5:30 PM ET Corporate Participants Marc Winterhoff - Interim Chief Executive Officer Gagan Dhingra - Senior Vice President of Finance and Principal Accounting Officer Taoufiq Boussaid - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Securities Tom Narayan - RBC Stephen Gengaro - Stifel Chris Pierce - Needham & Company Andres Sheppard - Cantor Fitzgerald Adam Jonas - Morgan Stanley James Picariello - BNP Paribas Operator Hello, and welcome to Lucid Q4 2024 Earnings Call. At this time, all participants are in a listen-only mode.
Lucid Group (LCID) Reports Q4 Loss, Tops Revenue Estimates
Lucid Group (LCID) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.29 per share a year ago.
Lucid CEO steps down; EV maker plans to more than double production in 2025
Lucid said Marc Winterhoff, currently the company's chief operating officer, will step in as interim CEO.
Lucid's stock rallies as luxury EV maker narrows its loss
Shares of Lucid Group Inc. shot up 6% in after-hours trading Tuesday after the luxury EV maker narrowed its quarterly loss and announced a CEO change.
Lucid CEO to step down, transition to strategic technical advisor
Electric vehicle maker Lucid Group said on Tuesday its Chief Executive Officer Peter Rawlinson will step down from the role, sending the company's shares up 12% in extended trading.
Lucid Motors CEO Peter Rawlinson steps down
Lucid Motors is changing CEOs for the first time in nearly six years. The company announced Tuesday that Peter Rawlinson is stepping down from the CEO and CTO roles that he's held since before the company went public.
Why Lucid Stock Plunged 10% Ahead of Earnings
Shares of Lucid Group (LCID -9.80%) plunged below $3 Monday, and were down by 10% as of 2:30 p.m. ET. A significant analyst downgrade appears to have triggered the sell-off.
Is Lucid Stock a Buy Now?
Lucid Group (LCID -5.72%) has disappointed many investors since its public debut in July 2021. The maker of luxury electric sedans went public by merging with a special purpose acquisition company (SPAC), and it opened at $25.24 on its first day.
