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Lucid Group (LCID) Falls More Steeply Than Broader Market: What Investors Need to Know

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Lucid Group (LCID - Free Report) closed at $2.03 in the latest trading session, marking a -3.79% move from the prior day. This change lagged the S&P 500's daily loss of 0.11%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq lost 0.82%.

Coming into today, shares of the an electric vehicle automaker had lost 4.09% in the past month. In that same time, the Auto-Tires-Trucks sector lost 5.6%, while the S&P 500 gained 5.17%.

Investors will be eagerly watching for the performance of Lucid Group in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.24, signifying a 17.24% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $292.12 million, showing a 45.64% escalation compared to the year-ago quarter.

LCID's full-year Zacks Consensus Estimates are calling for earnings of -$0.92 per share and revenue of $1.35 billion. These results would represent year-over-year changes of +26.4% and +67.3%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Lucid Group currently has a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.


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