Lucid Shares Plunge as Production Shortfalls and Analyst Downgrades Mount

The financial outlook for Lucid Group has deteriorated significantly following the release of disappointing quarterly results that triggered a substantial sell-off. The electric vehicle manufacturer’s stock plummeted more than 12% in a single week, with market indicators suggesting the downturn may be far from over.

Market experts responded swiftly to the weak performance. CFRA downgraded its rating on Lucid shares from “Sell” to “Strong Sell.” Analyst Garrett Nelson maintained his price target, which implies the stock could fall by more than 50% from current levels.

The core concern centers on Lucid’s operational capabilities. Fundamental worries persist regarding the company’s ability to sufficiently accelerate production to meet its annual targets.

Production and Delivery Disappointments

Third-quarter vehicle deliveries... Read more...