Lucid Group Inc. (NASDAQ:LCID) shares surged nearly 10% in after-hours trading Tuesday following the electric vehicle maker’s announcement of ambitious 2025 production targets and the unexpected departure of its founder and CEO.
What Happened: The luxury EV manufacturer projected production of 20,000 vehicles in 2025, significantly above analyst expectations of 14,700 and more than double the 9,029 vehicles produced in 2024. Simultaneously, the company revealed that Peter Rawlinson would step down as CEO, with COO Marc Winterhoff assuming the role on an interim basis.
Gary Black, Managing Partner at The Future Fund LLC, expressed skepticism about the timing and circumstances of Rawlinson’s exit.
“It’s highly unusual for a CEO to step down amicably before earnings and not be given an opportunity to provide a farewell on the earnings call,” Black wrote on X. “That $LCID will …
Full story available on Benzinga.com
Lucid Group Inc. (NASDAQ:LCID) shares surged nearly 10% in after-hours trading Tuesday following the electric vehicle maker’s announcement of ambitious 2025 production targets and the unexpected departure of its founder and CEO.
What Happened: The luxury EV manufacturer projected production of 20,000 vehicles in 2025, significantly above analyst expectations of 14,700 and more than double the 9,029 vehicles produced in 2024. Simultaneously, the company revealed that Peter Rawlinson would step down as CEO, with COO Marc Winterhoff assuming the role on an interim basis.
Gary Black, Managing Partner at The Future Fund LLC, expressed skepticism about the timing and circumstances of Rawlinson’s exit.
“It’s highly unusual for a CEO to step down amicably before earnings and not be given an opportunity to provide a farewell on the earnings call,” Black wrote on X. “That $LCID will …
Full story available on Benzinga.com
Lucid Group Inc. (NASDAQ:LCID) shares surged nearly 10% in after-hours trading Tuesday following the electric vehicle maker’s announcement of ambitious 2025 production targets and the unexpected departure of its founder and CEO.
What Happened: The luxury EV manufacturer projected production of 20,000 vehicles in 2025, significantly above analyst expectations of 14,700 and more than double the 9,029 vehicles produced in 2024. Simultaneously, the company revealed that Peter Rawlinson would step down as CEO, with COO Marc Winterhoff assuming the role on an interim basis.
Gary Black, Managing Partner at The Future Fund LLC, expressed skepticism about the timing and circumstances of Rawlinson’s exit.
“It’s highly unusual for a CEO to step down amicably before earnings and not be given an opportunity to provide a farewell on the earnings call,” Black wrote on X. “That $LCID will …Full story available on Benzinga.com Read MoreEquities, Gary Black, LCID, News, Markets, LCID, News, Equities, Markets, Benzinga Markets
