Lucid Group Earnings Preview: Is it time to buy LCID stock?
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- LCID stock gains over 3% in broad market recovery.
- Fed clears the path for risk assets to recover.
- Lucid Group stock set for more gains if it can produce solid earnings on Thursday.
Lucid Group followed the market in gaining just over 3% on Thursday. However, this was not a stock-specific move but rather a relief rally as the Fed proved to be more dovish than many investors had feared. This opened the way for a massive risk-on rally and the riskier side of the market took a badly needed breather.
This is likely to continue for at least a few days but bond yields have not moved significantly lower even at the short end of the curve, so bulls will need to be more selective going forward.
Lucid (LCID) stock news: Best-case scenario is vehicle production unchanged
Lucid will release earnings after the close on Thursday. These will naturally be closely watched but even more so after the last set of earnings. Back on February 28, Lucid Group slashed its production guidance to 12 to 14k vehicles for 2022 when analysts had been expecting over 20k. So the question remains, did Lucid kitchen sink the bad news and get the worst case out there (a clever strategy), or is there more bad news to come? Certainly, supply chain issues have worsened since the Feb 28 release. So we do not see any retro upgrade to this delivery estimate.
The best case is that it remains unchanged, but that is a big ask to the numbers, even though we place less emphasis on them as Lucid is basically a start-up. It all about ramping up production to achieve profitability over the next few years.
For a comprehensible technical analysis on LCID stock, read Wednesday's Lucid earnings preview.
- LCID stock gains over 3% in broad market recovery.
- Fed clears the path for risk assets to recover.
- Lucid Group stock set for more gains if it can produce solid earnings on Thursday.
Lucid Group followed the market in gaining just over 3% on Thursday. However, this was not a stock-specific move but rather a relief rally as the Fed proved to be more dovish than many investors had feared. This opened the way for a massive risk-on rally and the riskier side of the market took a badly needed breather.
This is likely to continue for at least a few days but bond yields have not moved significantly lower even at the short end of the curve, so bulls will need to be more selective going forward.
Lucid (LCID) stock news: Best-case scenario is vehicle production unchanged
Lucid will release earnings after the close on Thursday. These will naturally be closely watched but even more so after the last set of earnings. Back on February 28, Lucid Group slashed its production guidance to 12 to 14k vehicles for 2022 when analysts had been expecting over 20k. So the question remains, did Lucid kitchen sink the bad news and get the worst case out there (a clever strategy), or is there more bad news to come? Certainly, supply chain issues have worsened since the Feb 28 release. So we do not see any retro upgrade to this delivery estimate.
The best case is that it remains unchanged, but that is a big ask to the numbers, even though we place less emphasis on them as Lucid is basically a start-up. It all about ramping up production to achieve profitability over the next few years.
For a comprehensible technical analysis on LCID stock, read Wednesday's Lucid earnings preview.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.