What's Going On With Lucid Stock?

Lucid Group Inc LCID shares are trading higher Thursday, adding to gains of more than 30% over the last week. Here’s a look at what’s going on.

What To Know: Lucid shares rallied approximately 27% to start the week as several EV stocks bounced back following broader weakness in the sector over the last month. Tesla had been leading EV stocks lower in recent sessions after reporting a second straight quarter of disappointing financial results, but Tesla and several EV stocks caught a bid on Monday.

Lucid shares also appear to be benefiting from a new partnership with Ma’aden Rolling, a subsidiary of the Saudi Arabian Mining Co. In an X post this week, the aluminum panel supplier said it inked an agreement to provide Lucid with aluminum sheets with various specifications for its U.S. factories.

Lucid also appointed Matt Everitt as General Counsel this week. Everitt will be responsible for overseeing Lucid's legal affairs globally and for providing strategic legal guidance to support the company's ambitious growth plans. 

Lucid shares now appear to be moving on continued momentum. It’s worth noting that several EV makers, including Nio, XPeng and Li Auto, reported strong deliveries for January on Thursday.

See Also: Why Chinese EV Company XPeng Shares Are Rising Today

Is LCID A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Lucid‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Lucid does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 13.6%, you'll need to buy a share of Saba Cap Inc & Opps by Feb. 8. Once done, you can expect to receive a nominal payout of $0.09 on Feb. 29.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Lucid will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

LCID Price Action: Lucid shares were up 6.21% at $3.59 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Lucid.