Lucid Forms Partnership with Gravity SUV Boosts Financial Growth

Lucid Group Faces Challenges as Stock Signals Decline LCID has entered a difficult phase as its stock issues a Death Cross, a bearish sign indicating that the 50-day moving average ($2.94) has dropped below the 200-day moving average ($3.02).

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Despite this alarming technical signal, the electric vehicle manufacturer is holding on to hope, particularly with the upcoming launch of its Gravity SUV.

Read Also: GM Unveils 2026 Cadillac Vistiq Electric SUV With Starting Price Below Tesla Model X, Lucid Gravity

Earnings Surprise Amid Technical Challenges

Lucid recently surprised analysts with its third-quarter results, reporting $200 million in revenue and a narrower adjusted loss of 28 cents per share. The company produced 1,805 vehicles and delivered 2,781 in the third quarter, keeping it on target for an annual production goal of 9,000 vehicles.

CEO Peter Rawlinson conveyed optimism, pointing to record deliveries and the anticipated Gravity SUV, expected to go into production by late 2024.

Nevertheless, Lucid’s stock has not reflected this progress, plummeting 51% over the past year and 17% in just the last month.

Bears in Control: Technical Indicators Raise Concerns

The stock remains in troubling territory, evidenced by several indicators:

• The current share price of $2.13 is below the eight-day ($2.15), 20-day ($2.26), 50-day ($2.94), and 200-day ($3.02) moving averages.
• The Moving Average Convergence Divergence (MACD) indicator reads -0.23, adding to the bearish outlook.
• With a Relative Strength Index (RSI) of 35.36, Lucid is approaching oversold conditions but has yet to indicate a reversal.

Analysts Remain Cautious Amidst Optimism

Despite the company’s positive earnings report, the stock’s continued decline has left analysts skeptical. The recent Death Cross intensifies concerns about whether the Gravity SUV’s production, due late next year, can provide the boost Lucid desperately needs.

For now, the indicators suggest that “Gravity” is not just the name of an upcoming model—it may also symbolize the current downward pull on the stock.

Read Next: Lucid Recalls Over 1500 Units Of Air Sedan Over Loss Of Drive Power Concerns

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