What Going On With Lucid Group Stock Thursday?

Benzinga
Sep 05

Lucid Group, Inc. LCID has unveiled its latest global brand campaign, Driven, featuring Academy Award-nominated actor Timothée Chalamet.

The cinematic project, directed by filmmaker James Mangold of Minted Content, also reunites the stunt team from Mangold’s 2019 film Ford v Ferrari to showcase the capabilities of Lucid’s all-electric Gravity SUV.

The campaign represents the launch of a multi-year partnership with Chalamet, who has been named Lucid’s first global brand ambassador.

Also Read: Lucid Announces 1-For-10 Reverse Stock Split: How’s The EV Stock Reacting?

The Gravity, Lucid’s highly anticipated three-row all-electric SUV, takes center stage in the campaign.

Marketed as offering a rare blend of versatility, design, and performance, the model delivers the handling of a sports car and the range to transport up to seven passengers with luggage.

Lucid positions Gravity as the ultimate companion for long-distance exploration, aiming to differentiate it in a competitive luxury EV market.

The marketing push arrives at a difficult moment for the company. Lucid shares have extended losses this week, weighed down by investor concerns following a 1-for-10 reverse stock split that took effect after last Friday’s market close.

The maneuver, intended to elevate the company’s share price, was met with skepticism on Wall Street and has failed to reverse the stock’s downward trajectory.

Adding to the pressure, Lucid recently cut its 2025 production guidance after a disappointing second-quarter earnings report. The company now expects to deliver between 18,000 and 20,000 vehicles, a significant reduction from earlier forecasts.

The revision has further dampened investor sentiment, with shares down more than 48% year-to-date as the company struggles to scale production and establish financial stability in a crowded EV market.

Price Action: LCID stock is trading lower by 6.88% to $15.63 at last check Thursday.

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Image via Shutterstock

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