Lucid Takes a Beating

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By Douglas A. McIntyre Published

24/7 Wall St. Key Points

  • Lucid Group Inc. (NASDAQ: LCID) stock underperformed the S&P 500 in 2025, hitting an all-time low as the year ended.

  • Investors know that Lucid is a tiny company in a struggling industry, and its cars are too expensive.

  • It sounds nuts, but SoFi is giving new active invest users up to $1,000 in stock for a limited time, and all it takes is a $50 deposit to get started. See for yourself (Sponsor)
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Lucid Takes a Beating

© Victoria Gnatiuk / iStock via Getty Images

Last year was not a good one to be an electric vehicle (EV) company in the United States. The EV maker that took the worst of it was Lucid Group Inc. (NASDAQ: LCID | LCID Price Prediction).

Ford took a $19.5 billion write-off on its EV business. Tesla’s November sales were among their worst monthly numbers in four years. The entire industry took a hit when the Trump administration killed the $7,500 EV tax credit. The theory emerged that early adopters of EVs were the only adopters, at least for several years.

Lucid stock sold down 65% last year, as the S&P 500 rose 17%. It outperformed the S&P 500 briefly last February. However, even Jim Cramer jumped in with an opinion on December 23: “Sell, sell, sell.”

Its cars are too expensive. The base price for its Lucid Pure is $71,000. That price can rise as high as $250,000, which is an absurd price for almost any car short of a Rolls Royce. The Lucid Touring has a base price of $80,000, which rises to $95,000 for a higher-end model.

The primary argument for the decline in Lucid’s stock is that it is barely a car company at all. It delivered only 4,078 vehicles in the third quarter. It lost over $1 billion on revenue of $337 million. A back-of-an-envelope calculation shows that its unit sales would need to rise six times to break even, if it can hold costs in check.

Investors are well aware that Lucid is a tiny company in a struggling industry. If the industry’s falling tide is lowering all boats, what chance does Lucid have?

Morgan Stanley recently surrendered on Lucid, downgrading its outlook to Underweight from Equal Weight. The firm also lowered its $30 price target to $10. Investors took note. The share price hit an all-time low of $10.45 as the year ended.

Lucid Stock Price Prediction and Forecast 2026–2030

 

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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.

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