Lucid Group Inc. (#LCID) Stock Price, Live Chart & Analysis | Trade #LCID

Lucid Group Inc. is an electric vehicle company headquartered in Newark, California. The Lucid Group is also developing battery technology used in Formula E cars.

The company was founded in 2007 by Peter Rawlinson, a former Tesla engineer. He was the chief designer of the Model S car. In 2013, Rawlinson left Elon Musk's company and started his production.

In 2018, the Saudi Arabian Public Investment Fund invested $1 billion in Lucid Motors. The Fund now owns 62% of the company's shares. The money was spent on developing Lucid's first car, the Air sedan. In May 2020, Lucid Motors announced its factory's completion, where the Lucid Air production began in 2021.

The company went public in July 2021 through a merger with SPAC company Churchill Capital Corp IV, without an IPO. The new company was named Lucid Group. Its shares are listed on the NASDAQ under the ticker #LCID. Through the listing, the company managed to earn about 4.5 billion dollars, even though, at that time, the Lucid Group had not produced a single car. The market capitalization of the Lucid Group in 2022 was over $37 billion. Following the listing, the company received 11,000 bids to purchase Lucid Air.

The company does not pay dividends, directing all the money to its development. #LCID share price is quite low but volatile, so traditional investing can be risky. By trading stock CFDs, traders can profit from the exchange rate difference.

To predict the future price, traders need to follow the internal developments of the company. Since Lucid Group has only been on the market since 2021, any event related to the company attracts the attention of investors. In 2022, the company recalled over 1,200 vehicles due to a possible wiring malfunction. Such incidents negatively affect the company's reputation and investor confidence. As a result, the share price fell by 5%.