Lucid Stock (NASDAQ:LCID)
Lucid stock price down on Thursday, trading at $12.89 as of 12:48 PM EDT.
After reviewing Lucid Group’s (NASDAQ:LCID) delivery update, Morgan Stanley modified its analysis of the company. The analyst Adam Jonas predicts that LCID will need several billion dollars in additional capital in FY23 and FY24, but he continues to believe that the business will be able to find the money it needs to keep expanding and developing.
When valuing LCID, Jonas and his team directly questioned whether investors truly understood the Kingdom of Saudi Arabia’s supportive position. “Our working hypothesis is that the Kingdom of Saudi Arabia’s relationship with Lucid may go beyond that of a dominant stakeholder. The Public Investment Fund’s investment in LCID, in our perspective, gives the KSA a “seat at the table” for the long-term economic and social reforms of Vision 2030.”
According to Morgan Stanley, investors should recognize the potential for the relationship to grow further and the advantages of working with long-term, well-capitalized strategic partners. The cooperation is considered as assisting LCID with talent recruitment, technology acquisition/partnership, and long-term infrastructure and supply chain growth.
In the long term, Lucid Group (NASDAQ:LCID) is viewed favorably. Due to macro and sector headwinds, Morgan Stanley has set a price target of $12 and assigned an Underweight rating.
Ramped-Up Production
Based on Q3’22 production numbers, it appears as though the EV business has managed to get its act together and excel regarding its Lucid Air production ramp. Lucid Group (NASDAQ:LCID) lowered its production projection owing to supply chain concerns twice this year. Due to a constrained supply of auto parts, Lucid reduced their production projection from 20 thousand electric vehicles to 12–14 thousand EVs in February. Due to continued supply issues, which I referred to at the time as a game-changer, Lucid further reduced its production projection by 50% to 6-7 thousand EVs in August.
Today’s Powerful Gains In Lucid Stock, The Reason Behind It
Featured Image- Megapixl @ Iandewarphotography
Author Jowi Kwasu 
