Lucid Group Inc (NASDAQ:LCID) shares are hitting new all-time lows on Thursday as traders reassess the company’s recent financing and leadership headlines, with attention shifting to dilution risk and execution after the latest capital-raising updates.
- Lucid Group shares are approaching critical lows. Why did LCID hit a new low?
Uber Robotaxi Deal Raises Execution Pressure
Lucid’s sell-off is landing just days after the company said Uber Technologies Inc (NYSE:UBER) will buy at least 35,000 vehicles for its planned global robotaxi service, a scale target that raises the bar for production follow-through.
The same update also included a CEO change, with Lucid naming Silvio Napoli as its new CEO while Marc Winterhoff remains COO.
Lucid recently expanded its robotaxi partnership with Uber, including an additional $200 million investment that lifts Uber’s total investment to $500 million, alongside a $550 million commitment from Ayar Third Investment Company tied to the Public Investment Fund. The company also priced an underwritten public offering for gross proceeds of $300 million, with the combined raise across the transactions expected to total about $1.05 billion.
The broader tape is meanwhile leaning positive today, with the Nasdaq-100 up 0.44% and the S&P 500 up 0.21%.
LCID Remains Trapped In A Deep Bearish Trend
Lucid is trading below key trend markers and sitting under its prior swing structure, which keeps the longer-term chart biased to the downside. The stock is trading 20.9% below its 20-day simple moving average (SMA), suggesting short-term sellers still control the tape, and 30.6% below its 100-day SMA, indicating the intermediate trend remains weak.
The moving average stack is also still bearish, with the 20-day SMA below the 50-day SMA and the 50-day SMA below the 200-day SMA, which is consistent with rallies failing to turn into sustained uptrends. With the 52-week low set at $8.11 and shares currently below that level, price is pressing into “new-low” territory where confidence tends to be fragile.
The moving average convergence divergence (MACD), a trend/momentum measure, is bearish with the MACD line below the signal line and a negative histogram, which leans toward fading upside momentum. In everyday terms, MACD staying under its signal line usually means rebounds are struggling to build follow-through.
The stock is down 67.47% over the past 12 months, which matches the picture of a prolonged downtrend rather than a single bad week. Key turning points also show a recent swing high in January and a swing low in April, reinforcing that the stock has been making lower pivots into the spring.
- Key Resistance: $10.00 — near the 50-day area where rebounds have a higher bar to clear.
- Key Support: $7.50 — a round-number zone where buyers often try to stabilize a selloff.
Analysts Stay Mixed As Price Targets Shift Lower
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $13.33. Recent analyst moves include:
- TD Cowen: Hold (Lowers Target to $10.00) (April 15)
- Baird: Neutral (Lowers Target to $12.00) (April 15)
- Citigroup: Initiated with Buy (Target $17.00) (March 18)
LCID Shares Slide Thursday
LCID Stock Price Activity: Lucid Group shares were down 7.43% at $7.60 at the time of publication on Thursday, according to Benzinga Pro data.
Image: courtesy of Lucid
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