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Why Lucid Stock Dropped Today

TheMotleyFool

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Lucid Group (NASDAQ: LCID) stock crashed in Friday afternoon trading, falling 5.7% through 3:25 p.m. ET after a note from Morgan Stanley (MS) suggested Lucid could "miss" its target for deliveries in the fourth quarter.

Lucid Group is scheduled to report its Q4 2021 financial results on Monday, Feb. 28. Most analysts are forecasting Lucid will report $36.7 million in Q4 revenues and a $0.35 per share loss (with revenues of $61 million and losses of $1.42 per share for the year).

In Morgan Stanley's note, however, the focus is not on either revenues or losses, but on the number of Lucid Air luxury electric cars Lucid will deliver.

Source Fool.com

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