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 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.
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.
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.
Lucid (LCID -7.39%) stock is heading lower in Friday's trading amid a day of big sell-offs for the broader market. The electric vehicle (EV) specialist's share price was down 7.6% as of 3:40 p.m.
Lucid Group (LCID) closed the most recent trading day at $3.31, moving -1.78% from the previous trading session.
Lucid Group LCID is slated to release fourth-quarter 2024 results on Feb. 25, after market close. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 26 cents a share on revenues of $225.5 million.
Lucid Motors (NASDAQ: LCID) has surged to a five-month high, trading at $3.495 on February 18, 2025, after gaining 8% on the day and an impressive 28% over the past week.
It's no secret that Lucid Group (LCID 2.27%) has faced its fair share of speed bumps already. The automaker has driven through increased competition, price wars, supply chain issues, recalls, and software issues -- just to name a few.
Lucid Group stock price has staged a strong recovery in the past few months, helped by the recently launched Gravity vehicle and demand from bargain hunters. The LCID share price has soared by over 70% from its lowest level in November last year, pushing its market cap to near $10 billion.
Lucid Group (LCID 1.53%) stock has continued to decline in 2025 after a nearly 30% drop in 2024. But one Wall Street analyst thinks that shares of the electric vehicle (EV) maker have fallen too far.
Lucid Group (LCID 1.53%) is an up-and-coming electric vehicle (EV) manufacturer with significant backing from the Saudi Arabia Public Investment Fund. The company, which focuses on luxury EVs with extended driving ranges, has drawn investor interest since its merger with a special purpose acquisition company (SPAC) three years ago.