During his brief tenure as a Senator for the state of Ohio, Vice Presidential candidate JD Vance introduced the Drive American Act, which was intended to eliminate over $100 billion in existing electric vehicle (EV) subsidies and replace them with the America First Vehicle Credit to promote gas-powered vehicles made in the United States. Now, with the potential to become Vice President, Vance could help usher in a new era of administrative changes to decrease both the cost of gas-powered vehicles and gasoline in general.
New economic data suggests that a recession could be looming. Recessions are always tough for automakers, but this one could be grim for Lucid.
The market is already boiling, with the S&P 500 already sitting on a near-record high, having jumped 15% in the first half of 2024. Much of this jump is attributed to the hyper-growth stocks propping up investors' faith in the stock market.
Electric vehicles represented so much promise but recently the sector has struggled. Just look at premium manufacturer Lucid (NASDAQ: LCID ).
Lucid Group (LCID) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Despite being down 16.63% since 2024 started, Lucid (NASDAQ: LCID) stock has seen a strong recovery over the recent period.
Lucid Motors (NASDAQ: LCID ) stock is up more than 7% today after the electric vehicle maker inked a new deal with Graphite One (OTCMKTS: GPHOF ) for anode active materials (AAM) used to develop vehicles and enhance its domestic supply chain. As per the deal, Graphite One will provide 5,000 tonnes per year (tpy) of synthetic graphite, with an initial term of 5 years, though it is subject to early termination.
Lucid Group (NASDAQ: LCID ) is riding a wave of anticipation that it may have finally turned the corner. After a second-quarter deliveries update, Lucid stock hit a level not seen since last December.
Lucid disappointed its investors with slow production and delivery rates. It has a grim track record of overpromising and underdelivering.
Alphabet and Tesla delivered quarterly reports yesterday that worried Wall Street. In addition to its impact on the broader market, Tesla's Q2 report could have specific implications for Lucid.
Lucid Motors (NASDAQ: LCID ) is an electric vehicle (EV) stock that has been beaten down for some time. Today, LCID stock is down another 6%, but not really due to any company-specific reason.
24/7 Insights Wall Street is not entirely optimistic about the prospects for Lucid Group Inc.