Lucid Group (LCID) Stock in Freefall: 7-Day Losing Streak, CEO Exit, and Wall Street Downgrade

Lucid Group Inc. (NASDAQ:LCID) is facing a turbulent period as its stock continues to tumble, extending its losing streak for seven consecutive sessions. On Thursday, LCID closed 1.3% lower at $2.23, adding to an already concerning downtrend for the electric vehicle (EV) maker.

Lucid’s Stock Plunge: A Deeper Look

The EV company has lost approximately 33% over the past six sessions and is down more than 24% year-to-date. In comparison, the broader S&P 500 Index has gained over 1% during the same period, highlighting Lucid’s underperformance.

Over the past month, LCID has shed 16% of its value, leaving investors questioning the company’s long-term viability. Despite these struggles, Seeking Alpha’s Quant Rating assigns the stock a “Hold” rating with a score of 2.75 out of 5. While Lucid received a respectable “B” for growth, its profitability prospects were rated an alarming “F.”

Wall Street’s Take on LCID: Divided Sentiment

Wall Street analysts appear split on Lucid’s future. Among analysts covering the stock:

• 1 analyst has issued a Strong Buy recommendation.
• 8 analysts recommend Holding the stock.
• 4 analysts have given a Sell or lower rating.

Meanwhile, Seeking Alpha analysts lean bearish, with a “Sell” consensus on the stock.

Q4 Revenue Growth Fails to Impress

Despite LCID’s bleak stock performance, the company reported a 49% revenue growth in Q4 and a narrower quarterly loss compared to the same period last year. However, instead of a stock price boost, Lucid shares dropped 13.6% on Wednesday to $2.26, suggesting that investors remain skeptical about the company’s outlook.

CEO Departure Sparks Uncertainty

Adding to investor concerns, CEO and Founder Peter Rawlinson announced his departure, fueling speculation about the company’s ability to stay on track with its future developments. The news raised alarms within the investment community, with BofA analysts downgrading LCID, calling Rawlinson’s exit “much more consequential than perhaps understood by the market.”

With Lucid’s stock in a persistent decline, analysts remain cautious, and investor sentiment remains fragile. The road ahead for Lucid Group appears uncertain as the EV sector faces mounting competition and operational challenges. Will Lucid bounce back, or is the downward spiral set to continue?