Shares of Lucid Group (NASDAQ:LCID) hit an all-time low on Monday. Here’s why the stock is trending.
Lucid To Cut 12% Of Workforce
According to a note sent to employees last week, the company is laying off 12% of its workers to push closer to profitability after a turbulent year. First reported by TechCrunch, Lucid had about 6,800 full-time employees at the end of 2024, suggesting the layoffs will affect a significant portion of its salaried staff.
This major restructuring, which is expected to impact hundreds of employees, also comes as the electric vehicle maker prepares to release its earnings report on Tuesday.
Share Price Hits All-Time Low Near $9.20
Lucid shares were also caught in a broader sell-off, with the Nasdaq down 1.25% and the consumer discretionary sector declining 2.7%. This movement reflects a challenging day for the broader market, where the S&P 500 also shed 1.00%.
The stock has significantly underperformed over the past year, losing 66.89% of its value. The stock is trading around $9.20, which is well below all key moving averages, highlighting persistent bearish sentiment among investors.
Mixed Earnings Outlook
Lucid is set to report earnings on Tuesday. With this report just a day away, market participants are keen to see how recent challenges have been managed.
- EPS Estimate: -$2.60 (Down from -$2.20 YoY)
- Revenue Estimate: $460.32 million (Up from $234.47 million YoY)
Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price target of $25.70. Recent analyst moves include:
- Morgan Stanley: Downgraded to Underweight (Lowers Target to $10.00) (Dec. 8, 2025)
- Stifel: Hold (Lowers Target to $17.00) (Nov. 17, 2025)
- Cantor Fitzgerald: Neutral (Lowers Target to $21.00) (Nov. 6, 2025)
LCID Price Action: Lucid Group shares were down 2.41% at $9.32 at the time of publication on Monday, according to Benzinga Pro data.
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