What they aren’t telling investors
The post What they aren’t telling investors appeared on BitcoinEthereumNews.com. Lucid Motors (NASDAQ: LCID), the luxury electric vehicle (EV) manufacturer, has faced a tumultuous year as its stock took a significant hit, primarily driven by disappointing quarterly earnings results attributed to weaker-than-expected vehicle deliveries. In Q2 of this year, Lucid delivered just 1,404 of its highly anticipated Air sedans, raising concerns about demand. This fell short of market expectations, with Wall Street analysts projecting approximately 2,000 Airs for the quarter. Further adding to the uncertainty, it appears that Lucid is late with publishing its Q3 2023 delivery report, at least when compared to its previous release dates. What happened? Since going public through a SPAC merger in 2021, Lucid has always released its delivery reports on the 12th or the 13th of a month, well-known stock trader Gurgavin pointed out on October 14. Having said that, many expected Lucid to report its Q3 delivery figures last week. As evident from the images provided by Gurgavin, Lucid consistently published its last four quarterly delivery reports on the 12th of each respective month. Lucid deliveries were so good they didn’t want to announce them $LCID — Whole Mars Catalog (@WholeMarsBlog) October 12, 2023 Today is October 16 and investors are yet to gain insights into how the EV startup performed in terms of demand in the third quarter of this year. Automotive services provider Cox Automotive estimated Lucid Q3 deliveries at 1,601 in its report last month, signaling another potential blow for the startup and its investors. Lucid unlikely to meet its 2023 production goal The most recently available data showed that Lucid added registrations for 478 vehicles in August, bringing the total figure for the first eight months of 2023 to 4,267, according to Automotive News. At this pace, it seems unlikely that the Newark, California-based automaker will manage to meet…
The post What they aren’t telling investors appeared on BitcoinEthereumNews.com.
Lucid Motors (NASDAQ: LCID), the luxury electric vehicle (EV) manufacturer, has faced a tumultuous year as its stock took a significant hit, primarily driven by disappointing quarterly earnings results attributed to weaker-than-expected vehicle deliveries. In Q2 of this year, Lucid delivered just 1,404 of its highly anticipated Air sedans, raising concerns about demand. This fell short of market expectations, with Wall Street analysts projecting approximately 2,000 Airs for the quarter. Further adding to the uncertainty, it appears that Lucid is late with publishing its Q3 2023 delivery report, at least when compared to its previous release dates. What happened? Since going public through a SPAC merger in 2021, Lucid has always released its delivery reports on the 12th or the 13th of a month, well-known stock trader Gurgavin pointed out on October 14. Having said that, many expected Lucid to report its Q3 delivery figures last week. As evident from the images provided by Gurgavin, Lucid consistently published its last four quarterly delivery reports on the 12th of each respective month. Lucid deliveries were so good they didn’t want to announce them $LCID — Whole Mars Catalog (@WholeMarsBlog) October 12, 2023 Today is October 16 and investors are yet to gain insights into how the EV startup performed in terms of demand in the third quarter of this year. Automotive services provider Cox Automotive estimated Lucid Q3 deliveries at 1,601 in its report last month, signaling another potential blow for the startup and its investors. Lucid unlikely to meet its 2023 production goal The most recently available data showed that Lucid added registrations for 478 vehicles in August, bringing the total figure for the first eight months of 2023 to 4,267, according to Automotive News. At this pace, it seems unlikely that the Newark, California-based automaker will manage to meet…
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