BUZZ-Lucid falls after suspending forecast, Q1 revenue miss

Lucid

Lucid

LCID

0.00

** Shares of EV maker Lucid Group LCID.O down 4.8% at $5.95 premarket

** Co suspends its full-year forecast and posts its biggest Q1 revenue miss in more than four years

** Co posts Q1 revenue of $282.5 mln, missing analysts' est. of $440.4 mln, after a supplier-related issue disrupted deliveries of its Gravity SUV

** Co says it will provide an updated annual outlook in Q2 after the new CEO Silvio Napoli reviews the business. It had previously forecast production of 25,000 to 27,000 vehicles for this year

** Two out of 14 analysts rate stock "buy" or higher, nine rate it "hold", three "sell"; median PT at $8 - data compiled by LSEG

** As of last close, LCID stock was down 40.8% YTD


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.