Why Lucid Group (LCID) Dipped More Than Broader Market Today

Lucid Group (LCID) closed the latest trading day at $3.31, indicating a -1.78% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.43%. On the other hand, the Dow registered a loss of 1.01%, and the technology-centric Nasdaq decreased by 0.47%.Heading into today, shares of the an electric vehicle automaker had gained 26.22% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 8.96% and the S&P 500's gain of 2.6% in that time.The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. The company is scheduled to release its earnings on February 25, 2025. On that day, Lucid Group is projected to report earnings of -$0.26 per share, which would represent year-over-year growth of 10.34%. Meanwhile, the latest consensus estimate predicts the revenue to be $225.46 million, indicating a 43.46% increase compared to the same quarter of the previous year.Investors should also note any recent changes to analyst estimates for Lucid Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 1.4% fall in the Zacks Consensus EPS estimate. Lucid Group currently has a Zacks Rank of #4 (Sell).The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lucid Group, Inc. (LCID): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks