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Is Lucid Group Stock a Buy Now?

TheMotleyFool

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Is Lucid Group Stock a Buy Now?: https://g.foolcdn.com/editorial/images/721981/lucid-air-exterior-09.jpg

Shares of Lucid Group (NASDAQ: LCID) dropped 9% in after-hours trading on Feb. 22 after the company posted its fourth-quarter earnings report. Revenue for the maker of luxury electric vehicles (EVs) surged nearly tenfold year over year to $258 million, while its net loss narrowed from $1.05 billion to $473 million.

Lucid produced 7,180 vehicles for the full year, which surpassed its guidance of 6,000 to 7,000 vehicles, but it only delivered 4,369 of them. Its 1,932 deliveries in the fourth quarter also missed the consensus forecast and caused its quarterly revenue to come in $16 million shy of analysts' expectations.

The Lucid Air sedan. Image source: Lucid.

Source Fool.com

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