LCID, SNGX, SRAD Stock Hit 52-Week Lows Today: What's Driving The Selloff?

• LCID remains under pressure from production scale challenges and persistent operating losses.
• SNGX plunged after an independent panel recommended stopping its late-stage HyBryte trial in cutaneous T-cell lymphoma.
• SRAD shares came under pressure after swinging to a Q1 loss per share of 0.02 euros despite revenue growth.

Shares of Lucid Group, Soligenix and Sportradar Group slid to fresh 52-week lows on Tuesday, with broader market weakness adding to pressure from a failed trial, weak results, and demand issues.

On Tuesday, LCID stock slipped 1%, marking its fifth straight session of losses, while SNGX plunged 70% and SRAD fell 11%.

Demand And Losses Weigh On LCID

LCID shares extended their decline amid rising concerns over production-scale challenges and persistent operating losses in a volatile EV-demand environment.

The company previously projected first-quarter revenue of about $280 million to $284 million, along with an operating loss of $1 billion, while full-year production guidance of 25,000 to 27,000 vehicles came in below earlier expectations. Investors remain focused on the company’s premium Air sedan and Gravity SUV lineup, with its lower-priced midsize platform not expected to enter production until later in 2026.

Lucid is also seeking shareholder approval for several proposals at its June 4 annual meeting, including an amendment to its 2021 stock incentive plan that would add 23.5 million shares to the equity pool to support compensation for incoming CEO Silvio Napoli.

Support from its largest shareholder, Saudi Arabia’s Public Investment Fund (PIF), remains key to the company’s financing. The sovereign wealth fund recently invested $550 million through its affiliate, Ayar Third Investment Company, as part of a broader $1.05 billion capital infusion that also included funding tied to a vehicle supply agreement with Uber and its autonomous mobility partner, Nuro.

Trial Setback Sends SNGX Tumbling

SNGX stock plunged after an independent safety review panel recommended stopping a late-stage clinical trial of its cancer treatment, HyBryte, early, saying the interim results showed the therapy was unlikely to work as intended in patients with cutaneous T-cell lymphoma, a type of skin cancer. 

CEO Christopher J. Schaber said the company will now review the full dataset and may engage with regulators, including the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), to figure out potential next steps.

With $5.9 million in cash on hand, the company said it is also evaluating options, including possible merger opportunities and advancing Dusquetide for Behcet’s Disease after receiving orphan drug designation from the European Commission.

Bleak Earnings Pressure SRAD Shares

SRAD shares also came under pressure after the company reported first-quarter results showing a swing to a loss, even as revenue increased from the previous year.

The sports data company reported a Q1 loss per share of 0.02 euros, compared with a loss per share of 0.07 euros a year earlier, while revenue rose to 346.5 million euros from 311.2 million euros a year ago. However, the company reiterated its full-year outlook for revenue of 1.56-1.58 billion euros and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 390-400 million euros.

The earnings call was followed by a price-target cut from Canaccord Genuity to $28 from $34, still implying a 127% upside from current levels. The brokerage also maintained its ‘Buy’ rating on SRAD shares. Separately, a short position disclosed by Muddy Waters Research added to investor caution after the firm raised concerns about exposure to illegal betting markets.

How Do Retail Traders Feel About LCID, SNGX, SRAD?

Despite their fresh 52-week lows, retail sentiment for LCID, SNGX and SRAD remained broadly positive on Stocktwits, with LCID marked “extremely bullish” on ‘high’ message volume, while sentiment for SNGX and SRAD was “bullish” amid ‘extremely high’ chatter.

Over the past year, LCID is down 77%, SNGX is down 80%, and SRAD is down 45%.

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