Lucid Motors is hurtling toward a financial precipice, with interim CEO Marc Winterhoff confirming the electric vehicle startup will exhaust its current cash reserves by the second half of 2026. The company’s staggering burn rate—$855 million in net losses last quarter on just $259 million in revenue—paints a dire picture for a firm struggling to find traction in an increasingly crowded EV market. With Tesla dominating nearly half of U.S. sales and legacy automakers accelerating their electric offerings, Lucid’s high-price strategy and bet on autonomous driving technology face monumental challenges as the clock ticks down on its funding.
about Lucid's Cash Burn Crisis: EV Maker Faces 2026 Funding CliffLucid
0 posts last weekUS Retail Sales Surge as Jobless Claims Drop; Fed Insights
The latest episode of Bloomberg Businessweek Daily highlights a surge in US retail sales alongside a fifth straight week of declining jobless claims, signaling economic resilience. Wedbush Securities’ Alicia Reese provides forecasts for Netflix’s upcoming earnings, while Bloomberg Intelligence’s Mandeep Singh analyzes Lucid Motors’ stock surge following its robotaxi venture announcement with Uber. Additionally, former Fed Vice Chair Randy Quarles shares insights on the Federal Reserve’s current state in a discussion with Bloomberg’s Michael McKee. The episode offers a comprehensive look at key financial and economic developments.
about US Retail Sales Surge as Jobless Claims Drop; Fed InsightsUS Trading Day: United Cuts Forecast, Lucid & Uber Partner
The latest US trading session saw United Airlines shares drop after the company cut its forecast, though it remains optimistic about recovering demand. Lucid Motors’ stock jumped following a reverse stock split announcement, further buoyed by Uber’s $300M investment in a robotaxi partnership. OpenTable CEO Debby Soo highlighted that despite economic uncertainty, consumers continue to prioritize dining out, signaling resilience in the hospitality sector. These developments reflect shifting investor sentiment amid evolving market conditions.
about US Trading Day: United Cuts Forecast, Lucid & Uber Partner