Lucid Group (LCID) Slides Again as $875 Million Convertible Notes Trigger Price Target Cut to $30 — What Investors Need to Know Today

Benchmark Cuts Lucid Price Target by 57% as Shares Approach New All Time Low

Benchmark cut its price target on Lucid Motors by more than half following the electric vehicle maker's $875 million convertible note offering, citing concerns about dilution even as the analyst maintained a Buy rating.

Lucid Group (LCID) Slides Again as $875 Million Convertible Notes Trigger Price Target Cut to $30 — What Investors Need to Know Today

Lucid Group (NASDAQ: LCID) shares extended their post-earnings and post-financing slide on Thursday as Wall Street digested the electric-vehicle maker’s fresh $875 million convertible senior notes deal and a sharp price target cut from $70 to $30 by Benchmark. LCID closed around $15.66 on November 13, down about 5.6% on the day and roughly 8% over the last two sessions, as investors weighed the trade‑off between much‑needed liquidity and the ris…