3 Things About Lucid Group That Smart Investors Know
Lucid Group (NASDAQ: LCID) has been a divisive stock since its public debut last July. The bulls will point out that the electric vehicle (EV) maker is led by Peter Rawlinson, a former Tesla (NASDAQ: TSLA) engineer who worked on the Model S, and that its debut vehicle, the Lucid Air, can travel much farther on a single charge than Tesla's Model S Long Range. Lucid also believes it can eventually ship half a million vehicles annually by 2030.
The bears will note that Lucid recently recalled most of its delivered vehicles over a suspension issue, broadly missed analysts' sales expectations in its fourth quarter, slashed its full-year shipment forecast for 2022 by 30% to 40%, and postponed the upcoming launch of its Gravity SUV. Its losses are still widening, its debt levels are climbing, and the stock definitely isn't cheap at more than 20 times its projected sales for the current year.
Image source: Lucid.
Source Fool.com
