Lucid Cuts 2022 Production Guidance. Time to Sell?
Share prices of electric vehicle manufacturer Lucid Group (NASDAQ: LCID) tumbled 13.8% on March 1 after the company reported worse-than-expected fourth-quarter and full-year 2021 results, and slashed its 2022 guidance.
The most jarring kernel of news was that Lucid reduced its 2022 production and delivery estimate from 20,000 units down to a range of 12,000 to 14,000 Lucid Air electric sedans.
Given the disappointing adjustment, should investors consider selling Lucid stock now, or take a patient approach and give Lucid the benefit of the doubt?
Source Fool.com
