LCID Inventory Alert: Is Lucid Motors Headed for a New All-Time Low?

An image of a Lucid Group, Inc. (LCID Stock) electric vehicle

Lucid Motors (NASDAQ:LCID) inventory is within the information Tuesday as traders react to a brand new worth goal for the corporate’s shares.

Morgan Stanley analyst Adam Jonas is behind immediately’s information with a worth goal of $5 for the corporate’s shares. That’s an extremely bearish worth estimate that represents a possible 57% drop from the corporate’s closing worth on Monday.

However that’s not the one factor traders will observe concerning the $5 worth goal. It additionally implies that over the following 12 months, LCID inventory will hit a brand new all-time low. The corporate’s earlier low is $6.36, which it hit earlier this month.

Traders will even needless to say Jonas has an “underweight” ranking for shares of LCID inventory. The present analysts’ consensus ranking for LCID shares is “maintain” primarily based on 9 analysts’ opinions.

What’s Behind the Bearish Stance For LCID Inventory?

The Morgan Stanley analyst doesn’t have excessive hopes for the electrical car (EV) firm primarily based on its current efficiency. He claims “the basic outlook going through Lucid is extra probably deteriorating than bettering,” in a letter obtained by CNBC.

So far as immediately’s inventory motion goes, LCID shares are down 2.1% as of Tuesday morning. That comes alongside some 10 million shares altering palms. For the document, the corporate’s day by day common buying and selling quantity is about 32 million shares.

Traders searching for out extra of the newest inventory market information will need to stick round!

InvestorPlace is dwelling to all the most up-to-date inventory information merchants must find out about on Tuesday! Amongst that’s what’s transferring shares of Expion360 (NASDAQ:XPON), Sidus House (NASDAQ:SIDU), and ContraFect (NASDAQ:CFRX) inventory transferring immediately. You’ll be able to make amends for all of this information on the hyperlinks under!

Extra Tuesday Inventory Market Information

On the date of publication, William White didn’t have (both instantly or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the Publishing Tips.

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