Lucid Stock Sinks Lower Despite EV Tailwinds As Red Flags Pile Up
-
LCID stock has continued to perform poorly despite some positive macroeconomic trends that have boosted other EV stocks.
-
There are multiple red flags for Lucid, including executive departures, removal from the Nasdaq 100, weak Q3 results and guidance.
-
While Saudi production may improve, U.S. operations are struggling and losses are likely to persist.
-
Shareholder dilution has hurt LCID stock in the past and may continue as the company burns cash.
-
Even in a potential 2024 bull market, LCID seems unlikely to rebound given its weak fundamentals and operational challenges.