New York, June 26, 2026, 13:02 (EDT)
- Lucid gained roughly 6.5% by midday, trading ahead of Tesla and Rivian.
- The stock bounce faces a test with $158 million in yearly savings stacked against a $1.13 billion Q1 loss to common shareholders.
- The restructuring charge is minor compared with the savings, but trimming a second factory shift signals demand risk.
- Next up: the company brought back 2026 production guidance. It needs to show Gravity, Cosmos, and robotaxi can pick up the slack from lower plant output.
Lucid Group, Inc. NASDAQ:LCID was up 6.5% at $5.455 as of 12:46 p.m. EDT Friday. The stock bounced off a low of $5.07 earlier and stayed just under its $5.55 high for the session. Around 8.06 million shares had traded by midday.
Lucid pulled ahead of Tesla Inc. NASDAQ:TSLA, which rose 2.6%, and Rivian Automotive Inc. NASDAQ:RIVN, up 4.0%. The Nasdaq Composite was still tracking for a down week as tech shares stayed under pressure. MarketWatch
Lucid’s SEC latest filing put the focus on cost savings, not just layoffs. The June 22 filing said the company will cut about 18% of its U.S. staff, drop the second shift at AMP-1, and take about $32 million in cash charges. Lucid expects the changes to save roughly $158 million a year and wrap up most work by the end of the third quarter.
The cash charge amounts to about 2.4 months of annualized savings. A full year of those savings is about 4.9 times what the charge costs. Dip-buyers will focus on that detail.
Lucid’s first-quarter loss is the tougher figure. The company posted $282.5 million in revenue, made 5,500 vehicles, and delivered 3,093. Net loss attributable to common stockholders came in at $1.134 billion. Lucid’s planned annual saving comes to about 56% of first-quarter revenue, but just around 14% of that loss. Then-interim CEO Marc Winterhoff said Lucid was “aligning production and delivery with customer demand.” CFO Taoufiq Boussaid pointed to “driving structural cost improvements.” Lucid Group, Inc.
That’s important since Lucid’s trouble isn’t just about jobs. In May, Lucid halted its full-year outlook after supplier problems stalled Gravity SUV shipments. Before that, it aimed to make 25,000 to 27,000 vehicles for 2026. Reuters
Zacks kept Lucid at its #4 Sell rank in a Thursday note, flagging the company’s second round of job cuts, leadership changes and the Cosmos SUV in development. Zacks said Lucid aims to price Cosmos below $50,000, target a 0.22 drag coefficient and more than 300 miles of range, with a 2027 launch expected. TradingView
Lucid is keeping production in line with what buyers want, scrapping its second shift as it looks to cut costs. If the company gets the savings it wants, cash burn could drop sharply—key for investors. The stock trades at $5.455.
