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Benzinga

Business

Henry Khederian

Lucid Stock Pauses After 44% Monthly Surge On Uber Deal, Tech Upgrades

Uber Lucid United States LCID Lucid Group Lucid Group, Inc. Uber Technologies Inc Marc Winterhoff autonomous vehicle Tesla Inc.

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Shares of Lucid Group Inc (NASDAQ:LCID) are trading flat Wednesday as investors take a breather following a remarkable 44% surge over the past month. The rally was fueled by a string of positive catalysts, including a major autonomous vehicle partnership with Uber Technologies Inc (NYSE:UBER) and key enhancements to its 2026 Air models.

What To Know: The primary driver was last week's news of a strategic partnership with Uber and self-driving firm Nuro. The deal will add over 20,000 Lucid-manufactured autonomous vehicles to Uber's platform over six years, backed by a multi-hundred-million-dollar investment from the ride-hailing giant. The move drew positive ratings from analysts at BofA Securities and JPMorgan.

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