Lucid Shares Continue Their Steep Decline

Lucid Group's stock extended its downward trajectory on Wednesday, plunging to a fresh 52-week low as investor concerns mounted over the electric vehicle manufacturer's financial performance and recent capital-raising activities. The equity briefly traded at $12.37 during the session, reflecting persistent market skepticism.

The sustained selling pressure originates from two primary sources: disappointing quarterly results and a substantial convertible debt offering. On November 5, Lucid reported financial figures that significantly missed market expectations, despite achieving record deliveries for the seventh consecutive quarter and posting a 68.3% revenue increase.

The company disclosed an adjusted loss of $2.65 per share on revenue of $336.6 million, numbers that failed to satisfy investors. The situation worsened when, just one week later, management announced plans to issue $875 million in convertible notes. While intended to repay short-term obligations and strengthen the balance sheet, this move sparked fears of substantial shareholder dilution.

Wall Street Responds with Price Target Cuts

Market analysts have reacted to these developments with increased caution. Financial firm Stifel maintained its "Hold" recommendation but substantially reduced its price target from $21 to $17 per share. The analysts explicitly cited Lucid's heightened capital requirements as the rationale behind their downward revision.

Should investors sell immediately? Or is it worth buying Lucid Group?

Key technical indicators highlight the stock's challenging position:
* Current trading at $12.37 marks a new 52-week low
* The 52-week high stands at $36.40
* Wednesday's session saw a 4.40% decline
* Share price remains well below both 50-day and 200-day moving averages

Market participants are currently prioritizing the company's cash consumption rate and pathway to profitability over operational delivery milestones.

Gravity SUV Launch Carries Recovery Hopes

Attention now turns to Lucid's Gravity SUV, scheduled to begin production in the fourth quarter. This new model represents a potential turning point for the automaker, offering what investors hope could be a transformative product. The critical question remains whether reservation numbers and initial sales figures will prove sufficient to restore market confidence.

With the next significant catalyst—the Q4 and full-year 2025 earnings report—not expected until February 2026, the stock appears likely to remain under pressure in the near term. The technical chart setup remains decidedly negative, and without tangible improvements in cash flow and gross margins, the current downtrend may persist.