Home
News
- 1 LCID stock is below 20 day EMA; it lost 9.40% on October 18, 2023.
- 2 Lucid Group, Inc. failed to meet estimates and reported 16.19% less revenue.
- 3 The reported EPS of Q2 was negative $0.40, around 17.03% less than estimates.
In the weekly time frame, LCID stock price slipped around 18% and a 23.19% decline is observed in a month. When writing Lucid group, Inc stock was trading below the 20, 50, 100 and 200 day EMAs.
LCID Stock Price Analysis
LCID stock fell 4.19% on the October 19 trading session. In the 52 weeks time frame, the stock’s highest traded price was $17.81 and lowest traded price was $4.30.
Lucid Group, Inc. has a market capitalization of $9.90 Billion and market capitalization fell around 21% in 2023. The MACD and signal line are reflecting a bearish crossover in the territory below the zero line.
The RSI line is heading towards the sell-zone.
On October 18, 2023, LCID stock declined sharply and lost 9.40% of its trading price. It declined further on October 19. TradingView data shows that 1.429 Billion LCID shares are closely held and remaining 853.807 Million are free-floating in the market.
Lucid Group, Inc (LCID) Earnings & Revenue
For Q2 2023, Lucid’s estimated revenue was $181.58 Million, but the company failed to meet the expectations and reported 16.19% less revenue. The reported EPS was negative $0.40, around 17.03% less than estimates.
Market analysts expect that in the third quarter, the company is expected to report $196.21 Million in revenue and -$0.36 in EPS.
In 2022, Lucid Group, Inc. reported $608.18 Million in revenue from which its net income was negative $1.30 Billion and profit margin was negative $214.49%. In the long term, total liabilities of the company are $2.59 Billion and assets are $2.97 Billion.
Lucid Group, Inc. manufactures electric vehicles. It designs, develops, and builds energy storage systems for electric vehicles and supplies automakers with the battery pack system needed to power hybrid, plug-in, and electric vehicles.
Technical Level
Support Level: $4.30 & $4.00
Resistance Level: $5.14 & $5.46
Conclusion:
The MACD & RSI suggest that more bearishness is expected. In the weekly and monthly time frames, LCID stock price fell approximately 17.80% and 23.19%, respectively.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
