Stock Track | Lucid Group Plummets 9.19% Intraday as Dilution Fears Overshadow Uber Robotaxi Deal

Stock Track04-24

Lucid Group Inc's stock plummeted 9.19% during intraday trading on Thursday, continuing its recent selloff as investor concerns over share dilution overshadowed the company's partnership announcements.

The primary pressure dragging down the stock is Lucid's massive $1.05 billion financing package, which includes a $300 million underwritten public offering and $550 million from PIF-affiliated Ayar Third Investment Company. Traders are treating the added share supply risk as a dominant near-term hurdle, with the market demanding concrete operational proof that Lucid can scale up production fast enough to fulfill its ambitious Uber deal and justify the fresh capital.

This pressure has been amplified by a recent leadership shakeup that installed Silvio Napoli as the new CEO alongside current COO Marc Winterhoff. The stock is trading 27% below its 20-day simple moving average and 39.6% below its 100-day SMA, indicating sellers control both short-term and intermediate trends. With the relative strength index at 30.13, the stock is approaching oversold conditions after declining 73.33% over the past 12 months.

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