You should do your own thorough research before making any investment decisions. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. Trendline line support is $11.45, and below that $10 is where the stock languished for some time before exploding in early 2021. Resistance now is from the previous lows at $13.25 to $13.58. ![]() What we are left with is still a clear downtrend. ![]() We have detailed an 8-hour chart below to eliminate some of the noise from the massive spikes in 2021. Lucid is one of the more beaten-down stocks, having fallen as mentioned above by 68% this year so far. However, that probability increased as the day wore on. Lucid stands to gain if we get a risk-on bear market rally, which was not looking likely on Thursday before the open. However, the stock price has continued to languish and touched a yearly low on Tuesday of $12.20. After the delivery number, Morgan Stanley was reasonably positive on the story, citing increased capital needs but also highlighting the continued supportive stake by the Saudi Investment Fund. The company has a reduced target of 6,000-7,000 vehicle deliveries, which it cut from 12,000 to 14,000. Lucid delivered 1,398 vehicles on the production of 2,282 vehicles during the third quarter from its Arizona plant. The group looks on track to meet its reduced yearly delivery target. On Tuesday we got some comfort from the latest delivery numbers from Lucid. In the end, the main indices closed up betweeen 2 and 3%, but Lucid remained mired in negative territory. ![]() This led to a huge covering and a squeeze. However, a swift rebuke took place as sentiment and positioning were already max bearish. Indices were down 3% just after the 40-year high in core CPI. This was in sharp contrast to the huge reversal in the stock market after another hot CPI report. Lucid (LCID) stock failed to take part in turnaround Thursday as the stock closed at $13.01 for a small loss of 0.6%. LCID stock is down 68% YTD, 20% in past month.Other stocks all stage a massive u-turn, but Lucid stays behind.Lucid Group stock falls on Thursday after a hot CPI report.Analysts don’t project positive operating profit or free cash flow until 2026 for Lucid at the earliest. Along with production troubles, rising interest rates have sapped investors’ enthusiasm for more-speculative stocks such as Lucid that don’t generate earnings and cash flow. That will be another chance for investors to get an update from management.Ĭoming into Wednesday trading, Lucid stock is down about 67% year to date. Lucid hosts an earnings conference call to discuss its third quarter on Tuesday, Nov. Lucid managed to do just that in the third quarter. Ramping production higher is key for Lucid, and other EV start-ups. Shares are up 2% to $12.91 in early trading Wednesday. ![]() Lucid stock is rising Wednesday, after the update. Since the cut, Lucid stock is off about 38%. Lucid’s 2022 production range was cut back in August from a prior range of 12,000 to 14,000 vehicles, disappointing investors. To hit the midpoint of that guidance, Lucid will need to produce roughly 3,000 vehicles in the fourth quarter, assuming it delivers the 884 cars made but not yet shipped in the second quarter.
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