Lucid Stock Is Near Record Lows — And Q3 Delivery Numbers Delay Is Just Making Investors More Anxious
Portfolio Pulse from Shanthi Rexaline
Lucid Group, Inc. (NASDAQ:LCID) has not yet released its Q3 delivery report, causing investor anxiety as its stock trades near record lows. The company has faced production issues and lukewarm demand for its higher-priced EVs due to economic uncertainties and aggressive price cuts by Tesla. In Q2, Lucid produced 2,173 EVs, down from 2,314 in Q1, and Q3 deliveries were significantly below forecasts at 1,404 units. The company revised its 2023 production guidance to over 10,000 units due to these challenges.
October 13, 2023 | 10:00 am
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NEGATIVE IMPACT
Lucid's delayed Q3 report, production issues, and lukewarm demand for its EVs are causing investor anxiety and impacting its stock price.
Lucid's delayed Q3 report and production issues have led to investor anxiety, which is negatively impacting its stock price. The company's stock is currently trading near its all-time lows.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Rivian is mentioned as a competitor that has already released its delivery numbers, but the news does not provide any specific information that would impact its stock price.
The news mentions Rivian as a competitor that has already released its delivery numbers, but it does not provide any specific information that would impact Rivian's stock price.
CONFIDENCE 100
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Tesla's aggressive price cuts have affected the entire EV industry, including Lucid.
Tesla's aggressive price cuts have led to increased competition in the EV industry, affecting companies like Lucid. However, it's unclear how this will impact Tesla's own stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50