2024-03-26 14:45:58 ET
Summary
- Lucid Group, Inc. continues to enjoy robust financial support from the Saudi Arabia PIF, with the investments balancing the lack of profitability thus far.
- Despite the narrowing losses and lower annualized cash burn rate, the automaker's near-term prospects remain uncertain, given the apparent gap in demand/ supply.
- With Lucid Group stock charting lower lows and lower highs, it remains to be seen when bullish support materializes, with the dire predictions of EV bankruptcies already happening to Fisker.
- Combined with the elevated short interest, lower than expected FY2024 production guidance, and intensified capex, Lucid Group stock remains uninvestable in the meantime.
We previously covered Lucid Group, Inc. ( LCID ) in December 2023, discussing its pessimistic prospects as the premium electric vehicle, or EV, pricing became an inherent barrier to its mass appeal and adoption....
Read the full article on Seeking Alpha
For further details see:
Lucid: The Painful EV Consolidation Is Here, Will It Be Next?