LCID - Lucid Q1: Another New Low Possible

2024-05-07 11:21:01 ET

Summary

• Lucid Motors reported disappointing financial results, with a quarterly revenue miss and an operating loss of nearly $730 million.
• The company's cash burn remains a major problem, despite another recent capital raise.
• Lucid's valuation is still too high compared to its industry peers, even with major projected growth through 2025.

After the bell on Monday May 6th, we received first quarter results from Lucid ( LCID ). The luxury EV maker has been one of the most disappointing names in this space in recent years, losing tons of money and burning through plenty of cash. While there were some small incremental positives in this week's report, the company remains in a perilous financial situation that's not likely to reward investors anytime soon....

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