Shares of Lucid Group Inc (NASDAQ: LCID) are trading higher Friday, lifted by a series of strategic announcements. The electric vehicle maker is reporting strong demand and “so many orders” for its new Gravity SUV, potentially a key catalyst for future growth.
What To Know: Lucid has unveiled a significant partnership with Uber and autonomous technology firm Nuro. The collaboration will see Lucid’s Gravity SUV platform used to develop a fleet of robotaxis for Uber’s ride-hailing network.
The recent news provides a tailwind for the stock, which has faced pressure this year from a lowered 2025 production forecast of 18,000 to 20,000 vehicles and a 1-for-10 reverse stock split. Investors are now weighing these promising long-term ventures against the company’s immediate production ramp-up challenges.
Benzinga Edge Rankings: Reflecting the stock’s recent price action, Benzinga Edge rankings show the stock has positive short and medium-term price trends.
LCID Price Action: Lucid Group shares were up 2.96% at $23.72 at the time of publication Friday, according to Benzinga Pro. Over the past month, LCID has gained about 13.2% versus a 2.5% rise in the S&P 500 and is down roughly 21% year-to-date compared to the index’s 12.1% gain.
Technical Momentum: Lucid Group is currently trading at $23.95, reflecting a daily increase of 3.95%. The stock is above its 50-day moving average of $22.59 and its 100-day moving average of $22.96, indicating a bullish trend. However, it remains below the 200-day moving average of $24.69, suggesting potential resistance at this level.
How To Buy LCID Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Lucid Group’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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