Tesla Bull Gary Black's Blunt Take On Lucid: 'Advertising Can't Overcome A Bad Product'
Portfolio Pulse from Anan Ashraf
Gary Black, a Future Fund Managing Partner, criticized Lucid Group's (NASDAQ:LCID) pricing strategy, stating that advertising cannot compensate for a bad product or pricing strategy. Despite Lucid's advertising efforts, including winning the '2023 World Luxury Car Of The Year', its stock has been declining. Black contrasts Lucid's strategy unfavorably with Tesla, advocating for a balanced approach of advertising and pricing to boost sales without hurting margins. Lucid's stock has seen a significant drop, closing up 3.9% at $3.51 recently but down 15.4% year-to-date and nearly 66% over the past year.
February 09, 2024 | 11:15 am
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Gary Black criticized Lucid Group's pricing strategy and indicated that advertising efforts have not been able to prevent the stock's decline. Despite winning awards, Lucid's stock has been down significantly over the past year.
Gary Black's criticism of Lucid Group's pricing strategy and his comparison to Tesla suggest a negative outlook for Lucid's stock. His position as a managing partner at Future Fund and his track record of being short on LCID all the way down lend weight to his opinion, potentially influencing investor sentiment negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100