However, Lucid stock investors should note that the company is a high-risk, long-term bet. The third-quarter has seen a significant ramp in.
LUCID STOCK UPDATE
It seems the analysts are split on either side of the spectrum, with Bank. 1 day ago &0183 &32 Lucid has removed uncertainty for the stock with its Q3’22 production update which resulted in a 3.5 increase in the stock price on Wednesday. Therefore, it is not really encouraging to have met the conservative prediction in the grand scope of things. Finally, Lucid has an average price target of 33 among 3 firms covering the stock. Company officials had previously lowered their annual output target twice, which didn’t help. When evaluating Lucid stock as an investment, investors are now taking the entire picture into account. With inflation being what it has been over the last year, these numbers suggest consumers cut down on spending last month.
Although experts had predicted a 0.2% gain, the July data showed no change from the previous year. The monthly estimate of consumer expenditure (retail sales) came in lower than expected today. Customers may be hesitant to spend $100,000 or more on a new vehicle if they perceive a fall in their financial holdings, and the firm builds high-end luxury electric cars. Lucid stock does not want to increase production and sales during an economic slowdown.
What’s Next?Īs previously reported by the Labor Department, the Consumer Price Index (CPI) increased 8.2% from September last year, further fueling concerns about inflation and the possibility of a recession. Investors in riskier assets, like Lucid, were scared off by economic data in the days that followed. Therefore the Lucid stock soared on the news. Lucid seems to have found its production legs and should achieve its newest 2022 output goal. On Wednesday, Lucid announced that manufacturing of its Air sedans tripled from the previous quarter to 2,282. As of 1:26 PM EST, Lucid stock had dropped 5.8%. Lucid stock is expected to fall by around 7% today, with most of that total coming today and tomorrow. It also raises further questions about the SPAC model amid cautionary examples that include Nikola and Lordstown Motors.Lucid Group ( NASDAQ:LCID ), a manufacturer of luxury electric vehicles (EVs), surprised investors with some upbeat news this week, but Lucid stock is still down for the week. This marks a tumultuous turn of events for a company that had overtaken Detroit’s Big Three carmakers in terms of market capitalization. Lucid was once known as Atieva, and its battery supply business still operates under that brand name. and certain projections and statements,” CFO Sherry House said in a regulatory 8-K filing with the SEC, without specifying further. “The investigation appears to concern the business combination between the company (formerly known as Churchill Capital Corp. Shares in Lucid later rebounded from the lows, trading down 9% at $42.85 each by mid-morning. IV, a special purchase acquisition company (SPAC), first announced in February. Shares plunged by over 15% in early trading, as the company indicated the probe seemed linked to forecasts made as part of its reverse merger with Churchill Capital Corp. The company, which was previously worth more than industry giant General Motors, said on Monday that authorities had requested “ the production of certain documents” related to an investigation by the SEC, adding it was cooperating fully.
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