Aston

United

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Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>LCID Stock rallied 0.29% in a week and 41.11% in six months but fell 62.18% in a year.&nbsp;</a> </li> 
 <li> <span>2</span> <a>After closing hours, Lucid Group Inc. will release the earnings report on August 7, 2023.&nbsp;</a> </li> 
</ul> 
<p>Lucid Group Inc. (NASDAQ: LCID) will release Q2 earnings on August 7, but as Tesla Inc. slashed prices, LCID stock fell 7.70% in 3 months. Nearly all United States stocks were traded lower on August 2, 2023, as Fitch lowered the long-term credit rating. This decision affected the market sentiments and put pressure on the growth sector.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-lucid-group-inc-nasdaq-lcid-technical-analysis-strong"><strong>Lucid Group Inc. (NASDAQ: LCID): Technical Analysis</strong></h2> 
<p>LCID stock at press time is trading at $6.89 with a fall of 5.23%; previous close and open were at $7.27 and $7.05, respectively. The 52-week range is from $5.46 to $19.71, indicating that the current stock price is closer to the bottom. With a volume of 45.62 Million shares, the market cap is $15.664 Billion.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/07/29/lucid-stock-add-lcid-stock-to-your-watchlist-earnings-soon/" target="_blank" rel="noopener noreferrer nofollow">Lucid Group Inc.</a> reported Q1 earnings on May 8, 2023, where the reported revenue of $149.432 Million failed to beat the estimated value of $203.364 Million by 26.88%. Compared to the previous quarter, the revenue scaled by 159.09%. At the same time, the reported earnings of negative $0.43 per share also failed to surpass the expected value of minus $0.391 per share by 9.85%.&nbsp;</p> 
<p>Compared to the previous quarter, the earnings fell 6.98%. The subsequent earnings are scheduled on August 7 2023 after the closing bell. Zacks, a leading investment firm’s estimate says that the profits will suffer a loss of $0.35 per share, while revenue could be around $201.94 Million. Additionally, the year-over-year (YoY) jump in quarterly revenue should be 107.45%.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/21b4c1YH9saADv1Q9nflltq9Gzd3m8rbjR6pEjmX7HIZgaq6MVTqauuriW8VTbqzoko47_-f1ySPPF1d1gH4ZD59XkYzYnS6yQce9BxyG5N-lSWhH6IUyGLzyGIKG0xd1rbujhG8pv9U_E12xnslTw" alt="Lucid (LCID) Stock Price: What to Expect From August 7 Earnings?"> 
  <figcaption class="wp-element-caption"> <strong>Analysts Chart; NASDAQ: LCID; MarketBeat</strong> 
  </figcaption> 
 </figure> 
</div> 
<h2 class="wp-block-heading" id="strong-can-lucid-stock-price-action-break-the-range-strong"><strong>Can Lucid Stock Price Action Break the Range?</strong></h2> 
<p>LDIC stock price has been consolidating in a narrow range in the daily chart frame since March 2023. However, in late June 2023, there was positive momentum, but the following drop eroded the rally. 50EMA coinciding with current action hints at further consolidation: a descending 200EMA and RSI with a negative cross-over at 47.81 hints toward a decline.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/4X4D3hr22_KEeWj3qAQT4Wprnp50cWtPu5fhGGVcKIg16ARzDJjtWe5umo1pmnbNfCkDY6by1YMG40tgPFpb9i784xxb46PmYhz-XV5nzfU8O5cZy79bHsE4LKvUaRk0o9v-6GERTiGd02l9MJmsPg" alt="Lucid (LCID) Stock Price: What to Expect From August 7 Earnings?"> 
  <figcaption class="wp-element-caption"> <strong>Candle Chart; NASDAQ: LCID; TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>If Lucid stock can make its financials profitable, the price could rally across R1 at $9.26 and even R2 at $11.29. Until then, even if positive earnings propel the stock price across immediate resistance at $8.22, the possibility of sustaining is slim. The price should bounce off strong support at $5.48, but if it does not, $5.00 would act as the final line of defense.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-lucid-group-inc-lcid-stock-financial-analysis-strong"><strong>Lucid Group Inc. (LCID) Stock: Financial Analysis</strong></h2> 
<p>On June 22, 2023, Director Public Investment Fund purchased 265,693,703 LCID stock at an average price of $6.83 per share, making the investment worth $1.81 Billion. The electric vehicle (EV) manufacturer was reported to have delivered 1,404 Lucid Air sedans in the second quarter.&nbsp;</p> 
<p>While in Q1 2023, Lucid delivered 1,406 vehicles, and 679 in Q2 2022. Experts believed the luxury EV manufacturer would deliver 2,000 Air sedans in Q2 2023 but fell short. LCID Stock price is down by 62.18% in a year.&nbsp;</p> 
<p>In late March 2023, Lucid Group underwent a size reduction by laying off 18% of its workforce which was around 1,300 workers. On June 26, 2023, Lucid made a deal with Aston Martin Lagonda (LON: AML) to supply EV powertrains, battery systems, and related technology. In return, Lucid had a 3.7% stake in the British supercar maker while receiving $232 Million.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels:</strong></h3> 
<ul> 
 <li>Resistance: $8.22 and $9.26.&nbsp;</li> 
 <li>Support: $5.48 and $5.00.&nbsp;</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer:</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets and stocks comes with a risk of financial loss.</p>

Lucid (LCID) Stock Price: What to Expect From August 7 Earnings?

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