NEW YORK, July 6, 2026, 18:05 (EDT)
- Lucid Group, Inc. NASDAQ:LCID ended the session 9.54% higher at $6.66. Shares edged lower to $6.63 in after-hours trading.
- Lucid said July 6 it took out $800 million from delayed-draw term loans with Ayar Third Investment Company, affiliated with Saudi Arabia’s Public Investment Fund.
- Lucid’s latest loan draw works out to roughly $202,000 per Q2 vehicle delivered. That’s about 56% of its Q1 free cash outflow, according to the company’s data.
- Analysts are still cautious. MarketWatch data has a Hold consensus on the stock, with the average 12-month price target at $7.44.
Lucid Group, Inc. NASDAQ:LCID popped Monday in its first full U.S. session since the company missed Q2 deliveries. But a debt filing later that day brought the balance sheet back into focus for the stock.
Luxury EV maker Lucid ended the regular session up 9.54% at $6.66 on Nasdaq. After hours, MarketWatch had the shares at $6.63, off 0.45%. Nasdaq was closed July 3 for the Independence Day holiday, so Monday marked the first standard session following Lucid’s July 2 update on deliveries and management.
Lucid’s new figure isn’t a share price—it’s $800 million. The company said in a July 6 filing that it pulled that sum from its delayed-draw term loan tied to an existing deal with Ayar Third Investment Company, which is connected to the Public Investment Fund.
The rally happened before the market got a full session to react to the new funded debt. Lucid’s $800 million draw is roughly 2.8 times its $282.5 million Q1 revenue, and about 56% of the $1.44 billion negative free cash flow it posted for Q1. Broken down, that’s around $202,000 per each of the 3,953 vehicles Lucid delivered in Q2.
| Monday tape | Price/level | Move |
|---|---|---|
| Lucid Group, Inc. NASDAQ:LCID | $6.66 close | up 9.54% |
| Rivian Automotive, Inc. NASDAQ:RIVN | $20.14 latest | added 7.97% |
| Tesla, Inc. NASDAQ:TSLA | $419.77 latest | gained 6.65% |
| S&P 500 | 7,537.43 | rose 0.72% |
| Nasdaq Composite | 26,121.16 | was up 1.12% |
Tesla and Rivian both jumped, and Reuters said the S&P 500 and Nasdaq ended up as chip stocks surged. Lucid got some support from the EV move. But that didn’t close the operations gap.
Lucid said July 2 it built 4,774 cars and handed over 3,953 in the second quarter. According to Reuters, Visible Alpha analysts were looking for 5,280 produced and 4,618 delivered. So deliveries came up 665 short, or about 14.4%.
| Metric | Actual | Forecast/estimate | Gap |
|---|---|---|---|
| Q2 deliveries | 3,953 | 4,618 | -665 / -14.4% |
| Q2 production | 4,774 | 5,280 | -506 / -9.6% |
| Q2 2026 EPS | — | -$2.40 avg. | Report lands Aug. 4 |
| 2026 EPS | — | -$8.90 avg. | Full year |
Lucid’s delivery-to-production ratio rose to 82.8% in Q2 after coming in at 56.2% in Q1. During the first half, the company delivered 7,046 vehicles while producing 10,274, which works out to a 68.6% delivery ratio. That’s supporting the recent move in the stock, but lenders and shareholders still focus on inventory, cash burn, and any updates to guidance.
Lucid’s most recent forecast table hasn’t changed much since the company pulled its 2026 production guidance in May. Back then, CFO Taoufiq Boussaid told analysts Lucid would update its outlook during its Q2 earnings call. “We are suspending our prior guidance,” Boussaid told Reuters. Reuters
Lucid said Alexander De Bock will take over as CFO after Q2 numbers, with Taoufiq Boussaid set to leave after the transition. The move is part of a leadership shuffle. “We are simplifying the organization,” CEO Silvio Napoli said in the July 2 statement. Lucid Group, Inc.
Analysts aren’t lifting price targets much past where the stock finished Monday. MarketWatch listed an average target at $7.44 and a median at $7.00, with targets spread from $5.00 up to $14.00. The average target is only about 11.7% above the $6.66 close. Baird kept its $6 target and Neutral rating on Monday, below the closing price.
Lucid is out with Q2 results after the bell on Aug. 4. The company said shareholders can start submitting questions via Say Technologies from July 20 up until Aug. 3.
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