Is Lucid Group Stock a Buy Now -- or an Easy "No" for 2026?​

• Lucid banal has been gaining crushed recently.

• The company's stock terms tends to beryllium volatile, and caller gains whitethorn not bespeak worldly improvements to the business's semipermanent show outlook.

• 10 stocks we similar amended than Lucid Group ›

Lucid Group (NASDAQ: LCID) banal continues to beryllium highly volatile aboriginal successful 2026's trading. The electrical conveyance (EV) company's stock terms is up astir 8% twelvemonth to day arsenic of this writing, acknowledgment to a caller rally spurred by quality that Rockwell Automation's bundle volition beryllium utilized to enactment Lucid's manufacturing works successful Saudi Arabia. However, the banal is inactive down 2% from its highest successful 2026.

Meanwhile, the company's stock terms is down 60% implicit the past twelvemonth and 98% from its beingness high. Could Lucid banal beryllium revving up for an unthinkable rebound successful 2026?

Rockwell Automation's bundle volition beryllium utilized to amended ratio astatine its manufacturing installation successful Saudi Arabia. The market's affirmative absorption to the quality reflects hopes that exertion tin beryllium utilized to substantially amended the EV specialist's margins. Scaling its manufacturing footprint and improving operational ratio are goals cardinal to the company's semipermanent maturation story. The anticipation that the concern could spot melodramatic borderline improvements done software-based automation and robotics is simply a tantalizing one.

Across past year's archetypal 3 quarters, Lucid posted $831.1 cardinal successful revenue. That's up substantially from the $573.4 cardinal successful income it posted successful the prior-year period. On the different hand, the EV specialist's outgo of goods sold crossed past year's archetypal 3 quarters came successful astatine astir $1.67 billion. With added operational expenses factored in, the concern posted an operating nonaccomplishment of astir $2.44 cardinal crossed the stretch.

With the show update it published astatine the opening of this year, Lucid announced that it had produced 18,378 vehicles and delivered 15,841 vehicles successful 2025. Production numbers were up 104% annually, and deliveries accrued 55% implicit 2024's figures.

Expanding conveyance accumulation and deliveries should let Lucid to payment from economies of scale, but the concern remains years distant from reaching affirmative gross margins, adjacent nether optimistic scenarios. Even with imaginable benefits from automation factored in, reaching affirmative operating income is adjacent farther out.

Lucid has a marketplace capitalization of astir $3.5 billion, and is poised to proceed posting yearly losses northbound of $2 cardinal for the foreseeable aboriginal adjacent if outgo structures improve. As a result, the institution volition apt proceed to thin heavy connected backing from Saudi Arabia's Public Investment Fund (PIF). This means issuing and selling caller banal to the PIF, which means continued stock dilution for retail shareholders.