Lucid Group (NASDAQ: LCID) stock has plunged nearly 61% in just the past one year as of this writing, and that includes today's early morning fall in the stock's price. Poor execution, as reflected in low production and deliveries, surging costs, and cash burn, hit investor sentiment in the electric vehicle (EV) stock really hard.

Lucid, though, tried hard to convince investors earlier this year that it knows the way forward, and that it'll strive to improve execution, optimize costs, and nearly double its production in 2023.

Turns out, it was perhaps too early to become hopeful about Lucid's prospects, or at least that's what the company's latest numbers suggest. Lucid just reported its first-quarter numbers, and the number of red flags this time around is far too many to ignore.

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Source Fool.com