Hey guys, what’s up! It’s your favorite financial YouTuber back at it again with some exciting news about Lucid Group, Inc. So, get this – we’re getting close to their next earnings release, which is set for February 22, 2023. The word on the street is that Lucid Group is projected to report earnings of -$0.39 per share, representing a year-over-year decline of 5.41%. But that’s not all, our latest consensus estimate is calling for quarterly revenue of $289.8 million, up a whopping 998.14% from the year-ago period. This is huge, guys! It could cause the LCID stock to absolutely skyrocket if they beat expectations. But wait, there’s more. Now, investing in Lucid Group does come with some risks, so we have to talk about that. A few weeks ago, it seemed like meme mania was coming back for Lucid Group. Shares were going through the roof because of an unconfirmed buyout rumor, and people were going crazy. But the hype has died down a bit, and the stock has pulled back. It’s still trading above pre-rumor prices, but we have to be careful. There’s little indication that Lucid’s majority shareholder, Saudi Arabia’s Public Investment Fund, is going to make an offer to buy out the company. So, we can’t just invest based on rumors, guys. Here’s the good news, though. Lucid has hopped on the price-cut bandwagon and is now offering a $7,500 ”credit” (a rebate, really) on some of its Air Touring and Air Grand Touring models. Plus, Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), has upped its stake in the company by 9.2% to 1.11 billion shares in Q4 versus 1.02 billion shares in Q3, which is a great catalyst for the stock. This is all happening right before their earnings report, so it’s going to keep the stock price afloat right before it surges after they release better than expected results. But, let’s not forget that there’s still a risk of a sell-off if the earnings report isn’t up to par. So, let’s keep an eye on this, guys. Overall, Lucid Group is definitely one to watch, and I’m excited to see what happens next.
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
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