Overview
- Lucid shares fell about 5% to roughly $7.30 even as the broader market rose, signaling company-specific selling pressure.
- The company lined up about $1.05 billion in new funding that includes Uber lifting its investment to $500 million, a $550 million commitment from a Saudi PIF affiliate, and a $300 million stock offering.
- Investors cite dilution from the new capital and deep losses with negative gross margins as key reasons for the selloff.
- Lucid appointed Silvio Napoli as CEO with Marc Winterhoff moving to COO, a shift aimed at tightening manufacturing discipline and costs.
- The EV maker produced 5,500 vehicles and delivered 3,093 in the first quarter after a 29-day supplier seat issue, reaffirming 2026 guidance of 25,000 to 27,000 vehicles as analysts trim targets and prediction markets show a roughly 29% bankruptcy risk before 2027.