Lucid stock (LCID) popped 5.4% on Friday, riding high on the long-awaited rollout of its electric Gravity SUV. The rally brought shares to $2.84 and capped off a week of rising optimism for the EV underdog.
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Lucid Stock Jumps as Gravity SUV Enters Production
Lucid officially began production of the Gravity SUV at its Arizona facility. Priced from $79,900, the three-row EV boasts an eye-popping 440-mile range and enough bells and whistles to square up with Tesla’s Model X. The company’s aiming to build 20,000 vehicles next year—double 2024’s output—with Gravity expected to drive the lion’s share.
CEO Peter Rawlinson called it “a new era” for the company, which has largely bet the farm on the ultra-luxury Air sedan up until now. Investors clearly liked what they saw.
Lucid Powers Up Revenue But Still Runs in the Red
For Q1 2025, Lucid reported $235 million in revenue, up 36% year over year. Deliveries climbed 58% to 3,109 vehicles, but the bottom line is still burning fuel. The company posted a loss of $0.24 per share, slightly narrower than last year’s $0.30 loss.
That said, margins remain slim and competition in the luxury EV space isn’t going anywhere. Lucid’s challenge now is scaling without sacrificing quality—or bleeding more cash.
Lucid Targets Mass Market with Cheaper SUV
Looking ahead, Lucid plans to launch a midsize SUV around $50,000 by 2026—this time targeting Tesla’s bread-and-butter Model Y. The move signals a strategic pivot from exclusive luxury to high-volume competition.
Saudi Arabia’s Public Investment Fund remains a critical backer. This gives Lucid the cash runway to make that pivot stick.
Is Lucid a Buy or Sell?
Analysts are keeping one foot on the brake. On TipRanks, Lucid stock holds a Hold rating from analysts. Out of 11 total reviews, just one is a Buy, while seven are Holds and three are Sells—showing the Street isn’t exactly floored by the company’s prospects. The average 12-month LCID price target sits at $2.38, which actually suggests a 16% downside from today’s $2.84 close. Forecasts range widely from a high of $5.00 to a low of just $1.00. This reflects how sharply divided sentiment is.
