Lucid (US:LCID) Finbold·2024-10-17 10:10Core Viewpoint - Lucid Motors is facing significant stock market challenges in 2024, with a notable decline of 14.94% following a new share offering announcement, which has raised concerns among investors about stock dilution [1][2]. Group 1: Stock Performance and Market Reaction - Lucid Motors' stock price fell to $2.79 after the announcement of a new offering of over 262 million shares, with an additional option for underwriters to purchase more than 39 million shares [1][2]. - The stock has experienced a year-to-date decline of 20.96%, and a 66.84% drop from its IPO price, indicating ongoing struggles in maintaining investor confidence [6][8]. - Despite a brief rally following a strong Q3 production report, the stock's performance has been volatile, with a 13.23% decline in the last 30 days [6][8]. Group 2: Production and Delivery Insights - In Q3, Lucid shipped 2,781 vehicles, surpassing forecasts of 2,242, but produced only 1,805 vehicles, which was 300 fewer than the previous quarter and 400 below expectations [3][4]. - The company missed its delivery target for the first half of 2024 by approximately 90%, delivering only 4,361 vehicles against a projected 90,000 [4]. Group 3: Investor Sentiment and Future Outlook - Investor confidence is largely supported by the backing of the Saudi Arabian Public Investment Fund (PIF), which has pledged to purchase nearly 375 million shares to maintain its stake [2][6]. - Despite the challenges, there remains hope for Lucid's recovery, as evidenced by its ability to generate excitement through product showcases and partnerships, such as the introduction of the Lucid Air model to Four Seasons [5].