Lucid Is Skyrocketing Today -- Is the Stock a Buy Right Now?

Key Points

• Lucid stock is rocketing higher today following news that the company has partnered with Uber for its robotaxi program.

• The EV specialist signed a six-year deal to provider Uber with vehicles, and Uber also invested $300 million in Lucid.

• Lucid stock remains a high-risk, high-reward play, but its prospects look significantly better following its deal with Uber.

• 10 stocks we like better than Lucid Group ›

Lucid Group (NASDAQ: LCID) stock is soaring today after the company announced a major new deal in the robotaxi space. The company's share price was up 40.2% as of 1:30 p.m. ET amid the backdrop of a 0.4% gain for the S&P 500 and a 0.7% jump for the Nasdaq Composite.

Uber Technologies announced today that it has selected Lucid as a key vehicle provider for its robotaxi initiatives. The ride-hailing company will be purchasing the vehicles from Lucid and operating them using autonomous-vehicle software from Nuro. As part of the deal, Uber has also purchased a $300 million stake in Lucid.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

Image source: Getty Images.

Is Lucid stock a buy right now?

Lucid's long-term success still hinges on scaling its vehicle production and delivery numbers to the point where it sees enough benefits from economies of scale to generate positive margins on each electric vehicle (EV) it sells. Uber expects to roll out 20,000 or more Lucid vehicles with its robotaxi software over the next six years.

Uber's Lucid robotaxis are slated to launch next year in an unnamed major U.S. city. The deal with Uber is likely to be a substantial positive demand catalyst for Lucid. In conjunction with the news, the EV specialist submitted a filing with the Securities and Exchange Commission (SEC) stating that it plans to move forward with a 1-for-10 reverse stock split.

While the Saudi Arabian Public Investment Fund (PIF) remains Lucid's largest shareholder and will likely continue to bankroll the business and provide it with operating capital as it posts large losses in the quest to scale its operations, it's encouraging to see Uber come on board as a major investor and partner. Despite the big valuation pop for the stock already seen in today's trading, the deal with Uber looks like a substantial buy signal for Lucid stock if you were already considering an investment in the company.

Should you invest $1,000 in Lucid Group right now?

Before you buy stock in Lucid Group, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Lucid Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,050,415!*

Now, it’s worth noting Stock Advisor’s total average return is 1,058% — a market-crushing outperformance compared to 179% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of July 15, 2025

Keith Noonan has positions in Uber Technologies. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy.