Lucid Announces Fourth Quarter and Full Year 2023 Financial Results
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Analyst says Lucid (LCID) stock price may fall 20% as it is 'gasping for air'
February 22, 2024 7:35 AM ESTLucids (NASDAQ: LCID) shares tumbled more than 8% in premarket trading Thursday after the company posted worse-than-expected FQ4 earnings and issued a disappointing delivery guidance for fiscal 2024.
The company reported a loss per share of $0.29, slightly better than the analyst predictions of a $0.30 loss. However, its quarterly revenue of $157.2 million did not meet the expected $178.33 million consensus estimate.
Looking ahead to 2024, Lucid has set its annual production target of 9,000 vehicles, significantly below the average projection of 23,000 vehicles.
Evercore sees 20% downside risk in LCID stock
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