Where Will Lucid Stock Be in 1 Year?
Lucid Group (NASDAQ: LCID) has had a stunningly poor start in 2024 -- with its shares down by a whopping 32% in just two weeks as it faces ongoing operational challenges that show no sign of letting up. Can Lucid recover from its mess, or is it on track for bankruptcy? Let's explore what the future could hold for this embattled penny stock.
Lucid was hit by a series of back-to-back negative news releases this month. On Jan. 11, management released its fourth-quarter deliveries report. The automaker produced 2,391 vehicles while delivering just 1,734 in the quarter. While this number was higher than consensus estimates, it highlights some very alarming trends in the business.
For starters, Lucid simply isn't scaling very fast. Deliveries are down 12% against the prior-year period, which suggests the biggest barrier to growth is demand -- a very different situation from , which was mainly constrained by its production capacity during its early years.
Source Fool.com
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