What's Going On With EV-Maker Lucid Group's Stock Ahead Of Earnings?
Portfolio Pulse from Erica Kollmann
Lucid Group, Inc. (NASDAQ:LCID) shares are trading higher ahead of its Q1 earnings report. The company previously announced details about the 2024 Lucid Air Grand Touring, boasting the longest EV range in the U.S. at 516 miles. Analysts expect a loss of 26 cents per share and revenue of $155.986 million. Lucid's stock is above its 50-day moving average, with a significant portion of shares sold short, indicating potential volatility. The company does not pay dividends but may engage in other capital allocation strategies.
May 06, 2024 | 2:05 pm
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Lucid Group's stock is trading higher before its Q1 earnings, with expectations of a loss per share and significant revenue. The anticipation around the 2024 Lucid Air Grand Touring and its market-leading range may influence investor sentiment.
The positive trading movement ahead of Lucid Group's earnings report, combined with the high interest in the 2024 Lucid Air Grand Touring, suggests optimism among investors. However, the significant short interest indicates potential for volatility post-earnings. The company's lack of dividends but potential for other capital allocation strategies like buybacks could also impact investor sentiment.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100