Lucid Hits the Brakes 🛑

Electric vehicle manufacturer Lucid Group $LCID ( ▲ 0.97% ) reported a decline in production and delivery totals on Monday. The stock ticked down 0.24% in after-hours trading.

Details: On Monday, Lucid said it produced 2,954 vehicles and delivered 3,806 vehicles during the third quarter of 2026. Both were lower than the same period last year.

Why did deliveries exceed production? It was to follow the company’s previously announced plan to reduce inventory.

Powering the Story: Lucid said it cut production to align it more with demand for EVs, which has been on the decline.

Background: In August, Lucid reported a financial loss. Its revenue was lower than expected. Despite the poor results, Lucid’s management said there were no plans to take the company private, even though the stock is down 98% over the last five years.

Early Bird’s Nest Egg Gains: In the U.S., EV demand is down mainly because federal purchase incentives ended, making eligible vehicles effectively more expensive, and because buyers rushed to purchase before those incentives disappeared.

Final Thoughts: Lucid will report its next financial results on November 9.

^{PRESENTED BY FISHER INVESTMENTS}

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Notables

Notable Earnings Today: Constellation Brands (NYSE: STZ), Apogee Enterprises (Nasdaq: APOG), Penguin Solutions (Nasdaq: PENG), RPM (NYSE: RPM), Lamb Weston (NYSE: LW), Worthington Steel (NYSE: WS), Neogen (Nasdaq: NEOG), Saratoga Investment Corp (NYSE: SAR).

Notable IPOs Today: Pine Tree Acquisition Corp. Units (Nasdaq: PAXGU).

Notable Equity Crowdfunding Campaigns Ending Today: N/A.

Notable Economic Events Today: ADP Employment Change Weekly (8:15 a.m. ET), Trade Balance / Imports / Exports (8:30 a.m. ET), EIA Short-Term Energy Outlook (12:00 p.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Hyperliquid’s Token Buybacks

Blockchain Illustration. work email 👉shubhamdhage000@gmail.com

Photo by Shubham Dhage on Unsplash

The price of Hyperliquid $HYPE ( ▲ 0.7% ) jumped about 4% on Monday while the broader cryptocurrency market was flat.

Details: Token buybacks are driving the recent Hyperliquid rally. Hyperliquid bought and burned about $10.15 million in tokens on Monday.

Powering the Story: Those purchases created direct buying demand. The burns reduced token supply.

Final Thoughts: Hyperliquid is up about 94% over the past 12 months. It’s impressive given that most major crypto prices are down during the same period.

Pinterest’s New CFO

Pinterest $PINS ( ▲ 4.15% ) appointed James Dibbo as chief financial officer on Monday. The stock ticked up 0.20% in after-hours trading.

Details: Dibbo will officially take the role on October 26. He was most recently an executive at Amazon $AMZN ( ▼ 0.05% ).

Final Thoughts: Pinterest shareholders are hoping that the new CFO can help turn things around. The stock is down over 24% this year.

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