Lucid Drops Near 52 Week Low On Ruined Prospects

By Douglas A. McIntyre Published Mar 30, 12:12PM EDT

Quick Read

Sales Are Extremely Small
Losses Are Still Massive
No Prospects For Recovery

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Lucid Drops Near 52 Week Low On Ruined Prospects — © Courtesy of Lucid Group

On paper, shares of EV companies should be rising. As gas prices rise to $5 or more, they may still have a way to go before peaking. That should make EVs more attractive. One would not know that, as shares of EV company Lucid (NASDAQ: LCID | LCID Price Prediction) hit $9.38, up from a 52-week low of $9.12. The 52-week high is $33.70. The stock is down 11% this year.

Lucid has had bad news beyond that which it delivers quarter after quarter. According to the LA Times, it cut 319 people. According to the paper, “The cuts, which go into effect in April, are part of a 12% reduction in the company’s workforce as it looks to boost efficiency.” Lucid said the layoffs are “designed to streamline our organization so we can operate with greater efficiency and deliver on our commitments to gross margin improvement and long-term growth.” That implies Lucid management was not running the carmaker well in recent years.

Despite unit growth, Lucid is still remarkably small. In its latest earnings statement, management wrote, “During Q4 2025, it produced 7,874 vehicles, up 102% compared to Q3 2025, and delivered 5,345 vehicles, up 31% compared to Q3 2025.” That figure is so far from the deliveries it would need to be profitable that it is hard to imagine.

In its most recent quarter, Lucid reported revenue of $522.7 million, up from $234.5 million in the same period the year before. It lost $1.18 billion, compared to a loss of $637 million a year ago.

Lucid has unusually expensive cars for the current EV market, which is dominated by efforts to build EVs for drivers who want modestly priced models. It has tried to combat this with unusually favorable financial terms for buyers. Recently, the “favorable” deal is 0.00% APR for 60 months. There is a good chance Lucid loses money on that offer.

Lucid’s lowest priced Air Pure has a base price of $70,700. However, some of these are priced as low as $59,000. Its Air Grand Touring has a base price of $114,900.

It is impossible to do the calculation necessary to figure how many deliveries Lucid has to make to be profitable, but it has to be well into the tens of thousands. That won’t happen.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.