New York time check: It’s 1:21 a.m. ET on Saturday, December 27, 2025, which means U.S. stock markets are closed for the weekend.
Lucid Group, Inc. (NASDAQ: LCID) heads into the final week of 2025 with investors weighing a familiar Lucid cocktail: real progress on products and partnerships, paired with the hard physics of cash burn, supply-chain constraints, and a still-choppy EV demand backdrop. On Friday’s post-holiday session—thin volume, few catalysts, and major indices hovering near record territory—Lucid shares moved in the opposite direction. [1]
Below is what’s moving Lucid stock, what analysts are debating right now, and what investors should keep on their radar before the next opening bell.
Lucid stock price today: Where LCID stands after Friday’s drop
Lucid stock last traded during Friday’s session (December 26, 2025) at $11.41, down $0.39 (about -3.3%) on the day. The session ranged roughly from $11.33 to $11.79, with about 6.1 million shares traded. Lucid’s market capitalization sits around $3.69 billion, and the 52-week range is approximately $7.53 to $28.78—a reminder that this remains a high-volatility equity even by EV-sector standards.
In the broader market, Friday was quiet: Reuters described a light, post-Christmas session with the major indexes only marginally lower and still near all-time highs, as investors moved through the “Santa Claus rally” window with limited new information. [2]
That backdrop matters because Lucid often trades like a “risk-on / risk-off” instrument—more sensitive to sentiment, liquidity, and forward expectations than to any single day’s headline.
The product headline investors keep circling: Gravity gets cheaper
One of the biggest recent business updates came on November 20, when Reuters reported Lucid launched a lower-priced Gravity SUV variant, the Gravity Touring, starting at $79,900. Reuters said the Touring offers up to 337 miles of range and seats seven, aimed at widening Lucid’s addressable market as U.S. EV demand softened. [3]
Lucid itself has been leaning into the same narrative: broaden the lineup beyond the Air sedan, move from “halo luxury” toward a price point that can pull in more buyers, and use the Gravity ramp to drive volume.
A critical nuance: “cheaper” is relative. A $79,900 starting price still lives in premium territory. But it’s a meaningful step down from top-end luxury trims—and in a market where incentives have shifted, buyers are more price-sensitive.
EV incentives changed in 2025, and Lucid is trading in that shadow
EV demand in the U.S. didn’t just “cool” on vibes. Federal incentives changed materially in 2025.
The IRS’ guidance on clean vehicle tax credits notes a key cutoff around September 30, 2025, including rules that (in certain cases) require having acquired the vehicle on or before Sept. 30, 2025 to remain eligible if it’s placed in service after that date. [4]
Reuters explicitly connected the incentive shift to the EV demand environment, noting the expiration of the $7,500 federal tax credit and broader softening across EV makers. [5]
For Lucid investors, this matters because Lucid is still scaling and still proving out sustained demand. When incentives fade or become harder to qualify for, the market tends to penalize EV makers that aren’t yet consistently profitable.
The operational reality check: production constraints and a trimmed 2025 forecast
Lucid’s numbers show momentum—but also limitations.
Lucid reported it produced 3,891 vehicles and delivered 4,078 vehicles in Q3, and across the first nine months of 2025 it produced 9,966 (excluding additional vehicles in transit for Saudi assembly) and delivered 10,496. [6]
But Reuters reported Lucid cut its full-year production forecast to about 18,000 units, citing supply-chain constraints affecting Gravity production and listing issues including a chip shortage, rare earth supply disruptions, and fallout from a September fire at an aluminum supplier. [7]
That combination—higher deliveries year-over-year, but constrained ability to meet earlier ambitions—is one reason LCID often trades more like a “trajectory debate” than a traditional auto stock.
Q3 financials: revenue up, losses still heavy
In its third-quarter results, Lucid reported:
- Revenue of $336.6 million (up year over year)
- GAAP diluted net loss per share of $(3.31)
- Net loss around $978 million for the quarter (per the company’s published financial tables) [8]
The balance sheet also shows cash and cash equivalents of about $1.64 billion as of Sept. 30, alongside inventory around $981 million—numbers that reinforce how capital-intensive the ramp remains. [9]
In plain English: Lucid is selling more cars than it used to, but the business still needs significant funding and/or margin improvement to change the long-term profitability story.
Liquidity and financing: PIF support looms large
If Lucid has a “superpower,” it’s not scale (yet). It’s access to capital—especially through its relationship with Saudi Arabia’s Public Investment Fund (PIF).
Lucid disclosed that after quarter-end, PIF and Lucid agreed to increase Lucid’s delayed draw term loan (DDTL) facility from $750 million to approximately $2.0 billion. The company said that, pro forma for that increase, liquidity at quarter end would have been approximately $5.5 billion, versus actual total liquidity of $4.2 billion, and emphasized the DDTL remained undrawn. [10]
A separate filing summary notes the DDTL facility’s amended maturity and related economics, including a final maturity date in 2029 and fees tied to incremental commitments and undrawn amounts. [11]
Why the market cares
Liquidity can buy time—but it can also come with strings, dilution risk, and a “financing overhang” that weighs on valuation. Lucid itself said it would continue evaluating financing and liquidity options, including public markets, when conditions are appropriate. [12]
That’s one reason LCID can rally hard on good product news and still struggle to hold gains: traders often ask, “What’s the next funding event?” even while long-term holders focus on manufacturing scale and demand.
Uber cash + robotaxi ambitions: a different kind of Lucid narrative
Lucid is also trying to be more than “a luxury car maker that needs to scale.” The company has pushed a technology and partnerships storyline—especially around autonomy.
Key points from Lucid’s own updates:
- Lucid said it completed Uber’s $300 million strategic investment, tying directly into the robotaxi partnership. [13]
- Lucid reported it delivered the first vehicles into a robotaxi engineering fleet for development by Nuro, with an initial rollout planned in San Francisco in 2026. [14]
- Lucid also announced a collaboration with NVIDIA to co-develop Level 4 autonomous driving technology (Level 4 typically means the system can drive itself in specific environments without requiring a human to constantly supervise). [15]
- Earlier in the year, Lucid described a robotaxi partnership framework that could see Uber deploy a minimum of 20,000 Lucid Gravity vehicles equipped with Nuro’s driver system. [16]
For investors, the strategic question is whether these partnerships become meaningful revenue streams (software, licensing, or fleet sales) that can improve unit economics—or whether they remain long-horizon bets that don’t materially change the near-term cash profile.
Brand and demand signals: Car and Driver recognition and a new CPO program
Lucid has also leaned into third-party validation and demand-smoothing tools:
- On Dec. 16, Lucid announced that Car and Driver named both Lucid Air and Lucid Gravity to its 10Best lists for 2026, including direct commentary from Car and Driver Editor-in-Chief Tony Quiroga about Gravity’s range, charging, acceleration, and handling. [17]
- On Dec. 15, Lucid launched Lucid Recharged, a certified pre-owned (CPO) program, targeting single-owner vehicles under a mileage threshold and adding warranty coverage and inspection standards—an effort that can help stabilize resale values and widen the funnel for buyers who won’t pay new-car prices. [18]
These items don’t “solve” profitability. But they can influence consumer perception, residual values, and the overall demand curve—especially in a premium category where confidence and brand legitimacy matter.
Analyst forecasts and Wall Street debate: “EV winter” vs. “optionality”
The Lucid debate on Wall Street remains polarized.
A major flashpoint came in early December: Morgan Stanley’s autos analyst Andrew Percoco downgraded Lucid to Underweight and cut the firm’s price target to $10 (from $30), framing the call in terms of a prolonged “EV winter” and vulnerability among unprofitable EV makers. [19]
Other firms have focused more on capital needs and dilution risk than on product quality. For example, Stifel maintained a Hold rating while lowering its target to $17 in mid-November, pointing to funding requirements. [20]
What this means for investors: Price targets aren’t crystal balls; they’re scenario outputs. But the spread between bearish targets (around $10) and more constructive views illustrates exactly what LCID is right now: a stock where your thesis lives or dies on execution speed, funding terms, and whether Gravity can scale into real volume without destroying margins.
The market is closed now—what investors should know before the next session
Because it’s Saturday in New York, you can’t trade LCID on the primary U.S. exchanges right now. The Nasdaq’s core hours are 9:30 a.m. to 4:00 p.m. ET, Monday through Friday, and the NYSE’s core session is the same. [21]
Before Monday’s open, here are the practical things that matter most:
1) Expect thin year-end liquidity.
Reuters described Friday’s post-holiday session as light-volume and catalyst-thin. That kind of tape can amplify moves in high-beta stocks like LCID, especially at the open. [22]
2) Watch for headline risk tied to EV demand and policy.
The post-Sept. 30 EV incentive landscape is still filtering through demand, pricing, and consumer behavior, and Reuters has explicitly linked the incentive shift to softening EV demand. [23]
3) Keep an eye on “production/deliveries” as the next potential catalyst category.
Lucid has been issuing periodic production and delivery updates (like the Oct. 6 report), and the market tends to react sharply because those numbers are a proxy for demand, ramp health, and cash needs. [24]
4) Know the holiday schedule around New Year’s.
Investopedia notes U.S. stock markets are closed on Thursday, Jan. 1, 2026, and highlights year-end schedule nuances (including differences for bond markets). [25]
5) Use risk controls that match LCID’s volatility.
With LCID sitting well below its 52-week high and prone to large swings, many investors prefer limit orders and position sizing that assumes turbulence—because turbulence is the default setting here.
Bottom line
Lucid stock enters the next trading week with a clearer product ladder (Gravity Touring broadening the lineup), meaningful partnership narratives (Uber/Nuro robotaxi work and NVIDIA collaboration), and a liquidity backstop reinforced by PIF’s expanded DDTL facility. [26]
But the core investor question hasn’t changed: Can Lucid convert product momentum into scaled, reliable production and improving margins before financing needs dilute shareholders further? Wall Street’s split—ranging from “EV winter” caution to “optionality” optimism—shows the market is still arguing about that answer in real time. [27]
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.irs.gov, 5. www.reuters.com, 6. media.lucidmotors.com, 7. www.reuters.com, 8. www.prnewswire.com, 9. www.prnewswire.com, 10. www.prnewswire.com, 11. capedge.com, 12. www.prnewswire.com, 13. www.prnewswire.com, 14. www.prnewswire.com, 15. www.prnewswire.com, 16. www.prnewswire.com, 17. media.lucidmotors.com, 18. media.lucidmotors.com, 19. www.barrons.com, 20. www.investing.com, 21. www.nasdaq.com, 22. www.reuters.com, 23. www.reuters.com, 24. media.lucidmotors.com, 25. www.investopedia.com, 26. www.reuters.com, 27. www.barrons.com
