KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Lucid Group (LCID) just got its biggest boost in over two years — and it’s thanks to a new robotaxi partnership with Uber and Nuro.
On Thursday, Lucid shares jumped 35%, following news that Uber will:
Invest $300 million in Lucid stock, and
Use 20,000 Lucid EVs over six years in a new autonomous robotaxi service powered by Nuro’s tech.
The service will launch in a major U.S. city sometime next year.
Key Details Investors Need to Know:
Uber’s Investment: Buying Lucid shares through its subsidiary, representing ~3.3% of Lucid's market cap. Deal expected to close in Q3 2025.
Robotaxi Rollout: Lucid-Nuro prototypes already running in Las Vegas test zones.
20,000 Vehicles: Lucid will supply the EV fleet for Uber’s autonomous ride-hailing push.
Strategic Win: Analysts say this expands Lucid’s visibility and improves its balance sheet.
Stock Boost: Best one-day gain since Jan 2023.
Analyst Insights
Ben Kallo (Baird): Calls it an “unexpected catalyst” for Lucid’s robotaxi ambitions.
Mickey Legg (Benchmark): Upgraded Lucid’s price target from $5 to $7, citing the partnership’s potential to attract more investors and capital.
However, Lucid may still need more funding, likely through future debt or equity raises — a pattern seen before.
Reverse Stock Split in the Works
Lucid has also filed for a 1-for-10 reverse stock split. Why?
To make the stock more appealing to institutional investors.
To avoid being categorized as a “penny stock” (under $5), even though it hasn’t closed below $2.
Market Context
LCID YTD (2025): ▼ <1%
Tesla (TSLA): ▼ ~20%
Uber (UBER): ▲ ~50%
S&P 500: ▲ ~7%
EV ETF (DRIV): ▲ ~7%
MoneyMaster Takeaway
Lucid’s Uber partnership is a strategic move that gives the struggling EV maker a fresh narrative: autonomous ride-hailing. While fundamentals still need work, this deal:
Brings in cash
Improves brand image
Opens the door to future growth
But caution remains: Lucid has a history of cash burn and dilution. Long-term success depends on execution, cost control, and whether the robotaxi market delivers real revenue.
Investment Grade: 🟡 Speculative Growth Play
Investor Type: Medium- to long-term investors comfortable with high risk/high reward bets.
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