Lucid motors stock price options market data show heightened

Options market data show heightened open interest in Lucid Motors stock price puts around the $3 strike, hinting at market hedging against potential further declines. Wall Street analysts are tepid on LCID stock at the moment. Analysts at Cantor Fitzgerald reiterated their “Neutral” rating on LCID with a $3 price target. This was predicated upon Lucid’s Q2 production and delivery numbers falling short of Cantor Fitzgerald’s estimates while showing improvements YOY. Tesla pivoted to the more affordable Models Y and 3, for which it ramped up production quickly. That led to soaring global sales. Consider that Tesla produced over 500,000 EVs in 2020, the year it began selling the popular Model Y. Lucid began selling its Gravity SUV this year and still only expects production of between 18,000 and 20,000 vehicles in 2025. A lower-priced model is scheduled for release late this year, but even that Touring model will be priced at close to $80,000. Lucid Motors stock price is stuck in a narrow band, between $3.48 and $3.63, aligning with light institutional buying in recent weeks based on SEC filings.