3 Lucid Group Analysts Unpack Disappointing Q3 Print: 'No New Products' To Boost Margins
Portfolio Pulse from Priya Nigam
Lucid Group Inc (NASDAQ:LCID) shares dropped in premarket trading following disappointing Q3 results. Analysts from Cantor Fitzgerald, RBC Capital Markets, and Guggenheim Securities highlighted issues such as a revenue miss, lowered full-year production guidance, and lack of new products to boost margins. The company's shares lost 5.81% to reach $4.04 in premarket trading.
November 08, 2023 | 3:43 pm
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Lucid Group's disappointing Q3 results and lowered production guidance have led to a drop in its share price. Analysts also note a lack of new products to boost margins.
Lucid Group's Q3 results were below expectations, leading to a downgrade in ratings by analysts and a drop in its share price. The company also lowered its full-year production guidance, which is likely to impact future revenues. Additionally, the lack of new products to boost margins is a concern for the company's growth prospects.
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