2024-02-23 09:15:19 ET
Summary
- Lucid Group delivered only 1,734 vehicles in Q4, falling short of estimates and experiencing a 39% YoY decrease in revenues.
- The company lost $425,000 per vehicle sold last quarter and lacks substantial demand and profitability.
- Lucid's competition with Tesla and other established players in the luxury EV market poses challenges for its niche automaker.
- Lucid's operating loss widened by 19% YoY, indicating a lack of efficiency and profitability, and the company is at risk of becoming a penny stock.
Lucid Stock Outlook
Lucid Group, Inc. ( LCID ) makes a pretty stunning vehicle. It's unfortunate that the company failed to mass-produce and sell the Lucid Air at a profit. Despite extremely high hopes and rich estimates, Lucid only sold 6,001 cars last year of the 8,428 it built....
Read the full article on Seeking Alpha
For further details see:
Lucid Stock: Entering Terminal Decline After Q4 Earnings