{"id":115379,"date":"2024-10-18T01:20:55","date_gmt":"2024-10-17T18:20:55","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=115379"},"modified":"2024-10-18T01:20:55","modified_gmt":"2024-10-17T18:20:55","slug":"lucid-stock-tanking-as-ev-maker-announces-share-sale-ahead-of-suv-launch","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=115379","title":{"rendered":"Lucid stock tanking as EV-maker announces share sale ahead of SUV launch"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>Lucid Motors (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/LCID\/\" data-ylk=\"slk:LCID;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">LCID<\/a>) stock is sliding after the EV-maker announced <a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/ir.lucidmotors.com\/news-releases\/news-release-details\/lucid-group-inc-announces-pricing-public-offering-common-stock-0\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:another capital raise via a share sale;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">another capital raise via a share sale<\/a> late Wednesday night, as the California-based EV maker seeks further runway ahead of the release of its upcoming EV SUV.<\/p>\n<p>Lucid said it will offer up to 262,446,931 shares, with the proceeds likely <a data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/ev-maker-lucid-expects-raise-125416276.html\" data-ylk=\"slk:raising around $1.67 billion;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">raising around $1.67 billion<\/a>, for general corporate purposes as well as for capital expenditures and working capital.<\/p>\n<p>The company also said its majority shareholder, Public Investment Fund affiliate Ayar Third Investment Company, would purchase an additional 374,717,927 shares via a private placement, which would allow Ayar to maintain its 58.8% stake without dilution.<\/p>\n<p>As a result of these moves, Lucid stock slid 16% in midday trade.<\/p>\n<p>The stock offerings come only two months after Ayar gave Lucid a cash infusion of around $1.5 billion.<\/p>\n<p>In addition, Lucid filed preliminary third quarter financial results, with a loss from operations expected in the range of $765 million to $790 million for the quarter, similar to the $790 million lost in Q2. Third quarter revenue is expected in a range of $199 million to $200 million, ahead of estimates of $196.4 million, as compiled by Bloomberg,<\/p>\n<p>Lucid also said it had approximately $1.9 billion in cash and equivalents, with total liquidity of $4 billion prior to the capital raise.<\/p>\n<p>Last week, Lucid said it <a data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-07\/lucid-s-quarterly-production-falls-missing-analysts-estimates\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:delivered;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">delivered<\/a> 2,781 vehicles during the quarter, beating Bloomberg estimates, but its 1,805 cars produced missed what the Street was expecting.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 498px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:60%\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"The upcoming Lucid Gravity SUV (credit: Lucid Motors)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/bgN4aQSZ4P26nlAUPrRrrA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU3NQ--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-09\/28b54b20-6f88-11ef-853f-d1767e26d048\"\/><img decoding=\"async\" alt=\"The upcoming Lucid Gravity SUV (credit: Lucid Motors)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/bgN4aQSZ4P26nlAUPrRrrA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU3NQ--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-09\/28b54b20-6f88-11ef-853f-d1767e26d048\" class=\"caas-img\"\/><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">The upcoming Lucid Gravity SUV. (Lucid Motors)<span class=\"caption-credit\"> (Lucid Motors)<\/span><\/figcaption><\/p>\n<\/figure>\n<p>Lucid hopes its upcoming Gravity SUV, expected to begin production later this year, will jumpstart sales by a significant margin.<\/p>\n<p>\u201cWe believe that the total addressable market for Gravity is six times that of Lucid Air,\u201d Lucid CEO Peter Rawlinson said in an interview <a data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/lucid-ceo-weve-taken-the-mantle-from-a-distracted-tesla-220430625.html\" data-ylk=\"slk:with Yahoo Finance in August;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">with Yahoo Finance in August<\/a>.<\/p>\n<p>Rawlinson said the company will eventually have capacity at its Arizona plant to build 90,000 Gravity SUVs per year.<\/p>\n<p>The big question will be whether Lucid can build the Gravity SUV efficiently and come in below cost. The Gravity is expected to start around $80,000 in the US, right at the eligibility threshold for the federal EV tax credit.<\/p>\n<p><em>Pras Subramanian is a reporter for Yahoo Finance. You can follow him on<\/em><a data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/twitter.com\/Pras_S\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Twitter;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><em> Twitter<\/em><\/a><em> and on<\/em><a data-i13n=\"cpos:7;pos:1\" href=\"https:\/\/www.instagram.com\/pras_s\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Instagram;cpos:7;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><em> Instagram<\/em><\/a><em>.<\/em><\/p>\n<p><a data-i13n=\"cpos:8;pos:1\" href=\"https:\/\/finance.yahoo.com\/topic\/stock-market-news\/\" data-ylk=\"slk:Click here for the latest stock market news and in-depth analysis, including events that move stocks;cpos:8;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Click here for the latest stock market news and in-depth analysis, including events that move stocks<\/strong><\/a><\/p>\n<p><a data-i13n=\"cpos:9;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/\" data-ylk=\"slk:Read the latest financial and business news from Yahoo Finance;cpos:9;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/lucid-stock-tanking-as-ev-maker-announces-share-sale-ahead-of-suv-launch-161415355.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lucid Motors (LCID) stock is sliding after the EV-maker announced another capital raise via a share sale late Wednesday night, as the California-based EV maker seeks further runway ahead of &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=115379\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-115379","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/115379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=115379"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/115379\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=115379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=115379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=115379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}