- Jan 4, 2022
- Santa Clarita, CA
- 2022 Lucid Air GT
Our thesis on Lucid has always been about its production ramp. Read more to find out why we believe the FY22 production guidance for LCID is at risk.
- Our thesis on Lucid has always been about its production ramp. However, given the worsening COVID lockdowns in China, we believe its FY22 production guidance is at risk.
- In its Q1 earnings card, management also highlighted that its guidance is predicated on improved supply chain visibility in China from May.
- LCID stock is also testing a critical support level. If buyers fail to hold, it could face a steep selloff to force capitulation.
- Therefore, we revise our rating on LCID stock from Buy to Hold until we get clearer visibility in China.
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