Is Lucid Group Stock a Buy Now?
Lucid (NASDAQ: LCID) posted its second-quarter results after the market close on Aug. 7. The luxury EV maker's revenue rose 55% year over year to $151 million, but missed analysts' estimates by $54 million. Its net loss more than tripled from $220 million to $764 million, or $0.40 per share, and missed the consensus forecast by four cents.
Those headline numbers were disappointing, but Lucid's stock still jumped 12% the following day. That's likely because investors had already set a low bar after the company revealed its lackluster second-quarter production and delivery numbers last month -- so its post-earnings rally merely seems like a sigh of relief instead of an enthusiastic cheer.
Image source: Lucid.
Source Fool.com
