Has The Oversold Conditions Arrived For This Mid Cap Stock-LCID

Acrobull UK Advisory Services Ltd.

October 24

2024

Name	Ticker	Sector/Industry	Market Cap	Risk Factor
Lucid Group, Inc.	LCID-NASDAQ	Consumer Cyclical	$6.511 Billion	High

Lucid Group, Inc. a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.

Recent Highlights

On Wednesday, shares of Lucid Group Inc (Symbol: LCID) entered oversold territory, with an RSI value of 26 after trading as low as $2.49 per share. In comparison, the current RSI level for the S&P 500 ETF (SPY) is 33.9.

A bullish investor may see LCID's 26 RSI reading today as a hint that the current strong selling is about to an end, and start looking for buy-side entry points.

Second Quarter 2024 Financial Highlights

The company produced 2,110 vehicles in the second quarter and is on track to produce around 9,000 vehicles annually.

In Q2, we delivered 2,394 vehicles, a 70.5% increase from Q2 2023. Our revenue was $200.6 million.

Ended the quarter with roughly $4.28 billion in total liquidity.

Separately, announced a $1.5 billion commitment today from an arm of the Public Investment Fund (PIF).

Stock Observation- The company recently stated that it is raising funds through public offering because of which the stock has taken a hit however is poised for a comeback , however any purchase in the stock has to be with high risk appetite. The RSI level for the stock is at 26 which shows oversold conditions.

Risk Involved- Financial performance of the company may have an impact on the company stock performance.

Considering all the factors and financials of the company Acrobull UK maintains Buy Rating for the stock.

Disclaimer- Though our research is fundamentally and technically based on Acrobull UK only provides general advice on the stocks and it is imperative for the investors to do the risk assessment for themselves before investing as Acrobull UK would not be liable for any loss or profit arising out through the investment made by the investors on our recommendations.

It is also advisable for the investors to consult with Financial Advisor, Broker or to seek any legal assistance as the research conducted by Acrobull UK is factually based and recommendations are given in accordance with that, but it is imperative to understand that Acrobull UK does not guarantee returns.

Acrobull UK Recommendation Based on Evaluation

Current Market Price	$2.49 USD
Acrobull Recommendation	Buy
Target Price	$2.90 USD
RSI Level	14 Day RSI 26
Total Shares Outstanding	2.32 Billion
Shares held by Insiders Risk Factor Stop Loss	1.57% High 5%