LCID - This Shows Why Lucid Investors Could Be Waiting a Long Time for Big Returns
2024-05-15 08:06:00 ET
At first glance, luxury electric vehicle maker Lucid Group 's (NASDAQ: LCID) first-quarter earnings report, delivered after the markets closed on May 6, was a mixed bag.
While its revenue beat Wall Street estimates, it lost more money than expected. It still has a decent amount of cash on hand, but its capital expenditures were huge. And over 30 months after production of Lucid's much-acclaimed Air sedan began, sales still aren't anywhere near the levels the company and its investors originally hoped to see.
Lucid's sales should get a boost when the big Gravity SUV arrives late in 2024. But lower cost models are still over two years away. Image source: Lucid.
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This Shows Why Lucid Investors Could Be Waiting a Long Time for Big Returns