hapabapa
Lucid Motors (NASDAQ:LCID) presented disappointing quarterly earnings for its 1Q24 on May 6, 2024 that triggered another huge stock drop. However, Lucid Motors had better-than-anticipated sales for the first quarter and reported a narrowing of losses.
With that being said, the company continues to produce and deliver only a very small amount of electric-vehicles that are trailing the initial outlook for Lucid Motors’ delivery potential by a mile.
Furthermore, the company is still losing a boatload of money. I think that the risk/reward relationship is not favorable at all anymore and my stock classification for Lucid Motors stays at ‘Sell’.
My Previous Rating
Lucid Motors guided for a total production of only 9,000 electric-vehicles earlier this year which was the main reason why I cautioned against an investment in the electric-vehicle company.
The company did see some robust delivery growth in the first quarter,…
