2024-03-19 15:35:40 ET
Summary
- Lucid Group, Inc. has been underperforming market expectations and has seen a decline in its stock price since its IPO.
- The company reported a significant decrease in revenue and a net loss in its Q4 2023 earnings, with ongoing financial operations in a dire state.
- Despite these challenges, Lucid is financially backed by Saudi Arabia's Public Investment Fund, indicating continued support and a chance for success.
Introduction
Lucid Group, Inc. ( LCID ) has been underperforming the market expectations for the past few years. The company's stock price since its IPO has seen a stark decline. As such, in my previous article, I discussed the numerous risks surrounding Lucid, including weak production volume, high cash burn rate, and a potential lack of brand recognition in the global premium automobile market relative to other established premium competitors. Despite these risks, I had a hold rating on the company....
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Lucid Group: Saudi Arabia Is Dedicated Despite The Risks