Summary
- Lucid Group, Inc.'s Q3 financial results fell shy of consensus estimates for $200 million in sales and -$0.30 in earnings per share.
- Lucid stock plummeted (-12% at the time of writing) in post-market trading Tuesday (Nov 8th) as investor confidence was set back by the underperformance.
- Given Lucid stock's continuing valuation premium to peers, we expect it to remain vulnerable to further volatility ahead of or in tandem with broader market weakness.
- However, anticipated margin improvements driven by multiple internal operational tailwinds at Lucid over the next 12 months should bring some reprieve as macro challenges subside, driving potential improvement to peer group multiples.
For further details see:
Is Lucid Stock A Buy After Q3 Earnings? Double Miss Implies More Turbulence