Shareholders
Why is Rivian stock so bad?
Rivian stock sank more than 25% on Feb. 22 after reporting fourth-quarter earnings and revenue, along with announcing layoffs and plans to keep production in 2024 flat compared to 2023. Rivian reported on Feb. 21 a loss of $1.36 per share in Q4 with sales doubling to $1.31 billion.
Is Rivian a good stock?
Based on 21 Wall Street analysts offering 12 month price targets for Rivian Automotive in the last 3 months. The average price target is $17.70 with a high forecast of $36.00 and a low forecast of $8.00. The average price target represents a 55.95% change from the last price of $11.35.
Why is lucid stock dropping?
Lucid Group reported fourth-quarter production and deliveries on Thursday. The stock is falling, but the numbers look OK. There is a bigger issue auto investors are wrestling with.
Why is Lucid stock so cheap?
Lucid stock fell on news that Tesla had cut the price on its Model Y vehicle by 5,000 euros (approximately $5,430) in Germany and reduced pricing by similar amounts in France, Norway, and the Netherlands. The price cut came on the heels of big price reductions on the EV leader’s Model 3 and Model Y vehicles last week.
Who owns Lucid Motors?
Lucid vehicles are designed in California and manufactured at Lucid’s factory in Arizona. The company was founded in 2007. Since April 2019, Lucid has been majority-owned by Public Investment Fund, the sovereign wealth fund of Saudi Arabia. Lucid Group, Inc.
Is Lucid Motors going out of business?
While many EV and green energy companies might go bankrupt over the next couple of years, Lucid Motors might not – for the simple reason that it had a total liquidity of $5.45 billion at the end of September 2023, which it believes will fund the launch of its Gravity vehicles and also last into 2025.
Is Lucid owned by Saudi Arabia?
Saudi Arabia’s sovereign fund has a 60% stake in Lucid Motors, an EV startup. Months after the company went public, the stake was valued at more than $55B, per Bloomberg. That value dropped about 90% to $5.4 billion as Lucid reports millions in net loss.
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Why is Lucid Motors crashing?
On the heels of recent production shortfalls and a major recall for its 2022 and 2023 model Lucid Air vehicles, new signs of weakening EV demand threaten Lucid’s outlook. The company is already facing some business-specific challenges, and the overall industry now appears to be moving in unfavorable directions.
What does it mean to be Lucid?
easily understood; completely intelligible or comprehensible: a lucid explanation. characterized by clear perception or understanding; rational or sane: a lucid moment in his madness.
What does becoming Lucid mean?
Medical Definition lucid. adjective. lu·cid ˈlü-səd. : having, showing, or characterized by an ability to think clearly and rationally.