Lucid (LCID) shares fell 64% over the past year to $8.81, trading near 52-week lows after a 42% drop in Q1 2026 deliveries to 3,093 vehicles caused by a 29-day halt from improperly welded seatbelt anchors in Gravity SUVs, though management reaffirmed full-year guidance of 25,000 to 27,000 vehicles. The company burned $3.8 billion in free cash flow during 2025 and lost money on every car sold at the unit level, with liquidity falling to $4.6 billion by Q4 2025.
Saudi Arabia’s Public Investment Fund is propping up Lucid with a $2.0 billion term loan facility and $5.5 billion in pro forma liquidity as the company races to launch Saudi production by year-end 2026, but prediction markets now price a 48% bankruptcy probability for Lucid before the end of 2026.
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A popular Tesla (NASDAQ:TSLA) alternative, Lucid Group (NASDAQ:LCID) shares are trading near their 52-week low at $8.81, down 64% over the past year and off roughly 16% year-to-date. The catalyst bringing Lucid back into Reddit’s crosshairs is a messy Q1 delivery report combined with a product recall that exposed a supply chain vulnerability.
In Q1 2026, Lucid sold 3,093 vehicles, a 42% drop from the prior quarter, despite producing approximately 5,500 units. The gap traces back to a 29-day halt in Gravity deliveries caused by improperly welded seatbelt anchors in second-row seats, resulting from an unauthorized supplier change. The recall covered 4,476 Gravity SUVs produced through mid-February 2026. Management says the issue is resolved and reaffirmed full-year production guidance of 25,000 to 27,000 vehicles.
Discussion volume around Lucid spiked over the weekend of April 5 to 6, concentrated in r/wallstreetbets. The peak came Sunday, April 5, at 9 AM ET, with an activity score of 48, 309 upvotes, and 65 comments. By Tuesday morning, activity had fallen…
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