RIVN - Lucid Motors: Now A Value Trap

2024-05-12 12:28:53 ET

Summary

• Lucid Motors reported better-than-expected sales and a narrowing of losses for the first quarter of 2024.
• However, the company continues to produce and deliver a very small amount of electric vehicles, falling far behind its initial outlook.
• The company's stock classification remains at 'Sell' due to the unfavorable risk/reward relationship and ongoing financial losses.

Lucid Motors ( LCID ) presented disappointing quarterly earnings for its 1Q24 on May 6, 2024 that triggered another huge stock drop. However, Lucid Motors had better-than-anticipated sales for the first quarter and reported a narrowing of losses....

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