#car #stock #market
Yahoo Finance autos correspondent Pras Subramanian breaks down EV developer Lucid’s latest earnings report and its delivery forecasts.
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Going Bankrupt
That’s what they said about Tesla in it’s early years..LMAO Phoenix
@David Thomas This ain’t Tesla …. Let me guess you invested in Nikola.
@David Thomas Tesla was not burning through this much cash. Lucid has no leader like Elon and their price point is stupid. For what they’re charging i would rather buy a Porsche Taycan.
From forecast of 20k vehicles to 12k then 6k. Will probably end up forecasting 2k then bankruptcy.
Lucid is out of CASH in 2023.
🤣
Bankrupt
Better chance with Polestar who are actually manufacturing and selling out and delivering right on track.
I wouldn’t buy this stock. Going bankrupt within 2 years
LUCID is a FLOP.
Lucid motors is a MASSIVE FRAUD, its a pump & dump.
lol. SHort this crap
*The Tesla’s killer*
And I thought all these car companies were going to beat and over take Tesla…
buy at 4$
This isn’t a sustainable business. Shame though.
Reminds me of Tesla in 2012…they said 5000 and they ended up doing half that and there was no global supply and logistics issues like nowadays and the quality of the first 2500 vehicles was nothing short of shait…but they endured, pushed through and made it….give Lucid a break they are not doing too bad for a startup, the tech is leading, the fit and finish is decent, factory expansion is ongoing….its logical to believe the numbers will be achieved.
@O Campbell in a typical scenario like Tesla’s in 2012 you are correct…but when you have the PIF backing (63%) and knowing how badly they want Lucid to succeed, and we know that they do have the funds (lots of it); bankruptcy is a distant option..in 2012 Tesla couldn’t burn cash even if they needed to…you need to look deeper into Lucid’s main backers and how they view their investment in Lucid..this is not a short haul for the PIF…Lucid fits perfectly in their vision 2030 plan…whatever it takes to make it work…what’s a few billion dollars for the PIF to have a chance to compete at highest level in the EV global market. I believe Peter Rowlinson is the right man for the job and If he fails to meet expectations by 2023 he will be replaced by somebody who can.
so what is their key bottleneck?
Wait until Q3 to hear another 50% cut and Q4 another 50%. This is just pure no brainer, Q2 delivered 679 cars and who in he right mind will think Q3 they will deliver another 2000 and Q4 4000 cars? wake the F up. Everyone wants to hear success stories like Tesla, only a few will ever know how many times you got to get f’ed 69 times to even come out alive. Prototypes are easy, production is ….?
CEO hiding behind supply chain issues…Other EV makers produced much more