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Here's Why Lucid Group (LCID) Fell More Than Broader Market
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Lucid Group (LCID - Free Report) closed at $3.89 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.
Coming into today, shares of the an electric vehicle automaker had lost 10% in the past month. In that same time, the Auto-Tires-Trucks sector lost 0.24%, while the S&P 500 gained 2.56%.
Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company is expected to report EPS of -$0.29, up 27.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $178.71 million, down 30.65% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.12% fall in the Zacks Consensus EPS estimate. Lucid Group currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Here's Why Lucid Group (LCID) Fell More Than Broader Market
Lucid Group (LCID - Free Report) closed at $3.89 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.
Coming into today, shares of the an electric vehicle automaker had lost 10% in the past month. In that same time, the Auto-Tires-Trucks sector lost 0.24%, while the S&P 500 gained 2.56%.
Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company is expected to report EPS of -$0.29, up 27.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $178.71 million, down 30.65% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.12% fall in the Zacks Consensus EPS estimate. Lucid Group currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.