Here's Why Lucid Group (LCID) Fell More Than Broader Market

Lucid Group (LCID) closed at $19.28 in the latest trading session, marking a -3.14% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.05%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq gained 0.45%. Prior to today's trading, shares of the an electric vehicle automaker had lost 11.56% lagged the Auto-Tires-Trucks sector's gain of 7.72% and the S&P 500's gain of 3.44%.Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company is predicted to post an EPS of -$2.33, indicating a 43.17% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $325.59 million, indicating a 62.76% increase compared to the same quarter of the previous year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$8.89 per share and revenue of $1.26 billion, indicating changes of +28.88% and +55.98%, respectively, compared to the previous year. It is also important to note the recent changes to analyst estimates for Lucid Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.37% increase. Right now, Lucid Group possesses a Zacks Rank of #4 (Sell). The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 33% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks