Written by Cláudio Afonso | [email protected] | LinkedIn | X
The California-based startup Lucid Motors will report its first quarter financial results after the market closing as shareholders seek for details regarding gross margins, stock performance and a an affordable model capable of competing with Tesla.
More than 620 questions were asked over the last weeks and the most upvoted ones will be answered today in the earnings conference call by Lucid’s chief executive Peter Rawlinson and the leadership team.
NEVER MISS AN UPDATE
The Q&A had a total of over 3,800 participants representing more than 4.91 million shares and the most upvoted question asks Lucid’s management about the path to profitability.
“Can you elaborate on Lucid’s pathway to profitability? What are the key milestones and challenges the company anticipates facing in reducing production costs and achieving positive gross margins?,” a retail shareholder asked.
In the first quarter, the EV maker produced 1,728 units of its Air luxury sedan with deliveries reaching 1,967 vehicles.
In February, Lucid said that its production guidance for this year was “approximately 9,000” units, which would represent a slight increase from the 8,428 vehicles produced in 2023.
As of the time of writing, Lucid shares are trading 4 percent higher at $2.90. The stock has rebounded 26 percent since its all time low of $2.29 per share hit on April 23.
“The stock price keeps dropping, what measures will you be employing to bring the price up considerably? It seems product output is still extremely low,” was the second most upvoted question.
NEVER MISS AN UPDATE
The third most upvoted question seeks for further information on other sources of revenue for Lucid. With 1,500 votes representing 2.7 million shares, the shareholder asks the management about possible deals with automakers who can use Lucid’s technology.
“Is Lucid in talks with any of the legacy automakers to provide battery or motors for production?,” the shareholder asked.
NEVER MISS AN UPDATE
Other questions from the top10 cover other topics such as the production of a more affordable model to compete with Tesla, sales outlook for 2025 and also the marketing strategy to increase sales.
| 4. Will Lucid make an affordable car to compete with Tesla? |
| 5. What is the outlook for 2025 on sales and have you given any thought to shifting the technological breakthroughs of Lucid into a different platform that is more in line with customer desires? |
| 6. Do you have any plan for reverse split in 2024? |
| 7. What are the plans for marketing to increase sales business? |
| 8. What is Lucid plans to prevent falling stock prices and start turning it back around? |
Citi recently resumed coverage of Lucid Motors’ shares with a neutral rating and $2.90 price target. The firm emphasises Lucid’s “strong” electric vehicle (EV) technology although it raises concern on the execution risk for the upcoming model planned for late 2024 Gravity.
Last month, Lucid Motors signed a partnership with the electric vehicle (EV) charging company Wallbox to provide chargers to its European customers.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
