LCID - Lucid Stock To Tumble Further To $3? Bearish Analyst Makes Dire Prediction After Q3 Deliveries Miss | Benzinga
Lucid Group, Inc. (NASDAQ:LCID) fell over 5% on Tuesday after the manufacturer of premium electric vehicles reported third-quarter deliveries that missed expectations. Tesla investor and Future Fund Managing Partner Gary Black offered his take on the numbers.
What Happened: Lucid could only muster deliveries of 1,457 EVs in the third quarter despite its huge ad spending, said Black in a post on X, formerly Twitter. The consensus number was at 2,118, he said.
Year-to-date, the company has produced 6,037 units, and if the 700 EVs the company has shipped to Saudi Arabia for final assembly were included, the production tally is 6,737 units. Deliveries so far this year totaled 4,367 EVs.
Lucid has guided to production of over 10,000 units for the year and this leaves the company ...