LCID Stock News: Lucid Group Inc drops after a bearish note from Morgan Stanley

NASDAQ:LCID saw its recent uptrend come to a screeching halt on Thursday, and then the stock extended its declines to close the week on Friday. Shares of LCID fell by 5.41% and closed the trading week at $26.59. Ongoing tensions between Russia and Ukraine sent the markets reeling for a second straight week, as all three major indices closed in the red once again. The NASDAQ plunged for the second consecutive day as the tech-heavy index fell by 1.23%, while the S&P 500 and Dow Jones dipped by 0.72% and 232 basiss points respectively during the session.

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A bearish note from Morgan Stanley sent Lucid investors packing on Friday. The investment firm put out a note stating that it believes Lucid will miss on its fourth quarter earnings report later this month. Morgan Stanley didn’t mention earnings or revenues, but was focused on the quarterly delivery figures for the company. It also provided a forward-looking miss for Lucid on the total of 20,000 vehicles delivered in 2022. These two things combined made it an easy decision for some Lucid investors to hit the sell button ahead of the earnings call and wait for better news in the future.

Lucid Motors stock forecast

Barron’s had an equally bearish note for Tesla (NASDAQ:TSLA) investors on Friday. One of the world’s leading lithium providers and Tesla partner, Albemarle (NYSE:ALB) saw its profits slump last quarter as it spent its capital building up infrastructure to appease the demand of the global EV market. Barron’s is also anticipating this to be the case for Tesla as it attempts to scale its global production across several new GigaFactories. Barron’s is effectively predicting that Tesla’s profit margins will take a major hit over the next couple of years, and in effect, so will its stock.

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