EV Maker Lucid’s $338,000 Loss Per Car Turns Investors Off
- Percentage of bullish analyst ratings down to a record low
- Average sales estimate for the year has halved in six months
A Lucid Motors Air Grand Touring electric vehicle at the company's showroom in New York, US.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
The diverging fortunes of the two most prominent electric vehicle startups in the US show Wall Street is picking a side — and it’s not Lucid Group Inc.
Having recently touched an all-time low, the stock is down nearly 25% this year through Thursday’s close, compared to a 1% decline for pickup truck-making peer Rivian Automotive Inc. in the same period. The percentage of bullish analyst ratings on Lucid has dwindled to only about a quarter of all recommendations. For Rivian, more than half of the ratings are the equivalent of a buy.