Lucid Group: Q1 Miss And Another Capital Raise Reiterates A 'Sell'

Bill Maurer36.96K FollowersFollow5ShareSavePlay(8min)CommentsSummaryLucid shares hit all-time lows after a disappointing Q1 pre-announcement, with another large loss and major cash burn.Q1 deliveries fell well short of expectations, with under 3,100 vehicles delivered due to a major supplier issue.LCID announced a $1.05 billion capital raise, including investments from Uber and the Saudi Investment Fund. bymuratdeniz/E+ via Getty Images On Wednesday, shares of luxury electric vehicle maker Lucid (LCID) hit a new all-time public trading low. The stock has lost nearly 96% over the past five years, and even more from its peak, as continued poor resultsThis article was written byBill Maurer36.96K FollowersFollowI am a market enthusiast and part-time trader. I started writing for Seeking Alpha in 2011, and it has been a tremendous opportunity and learning experience. I have been interested in the markets since elementary school, and hope to pursue a career in the investment management industry. I have been active in the markets for several years, and am primarily focused on long/short equities. I hold a Bachelor of Science Degree from Lehigh University, where I double majored in Finance and Accounting, with a minor in History. My major track focused on Investments and Financial Analysis. While at Lehigh, I was the Head Portfolio Manager of the Investment Management Group, a student group that manages three portfolios, one long/short and two long only. I have had two internships, one a summer internship at a large bank, and another helping to manage the Lehigh University Endowment for nearly a year. Disclaimer: Bill reminds investors to always do their own due diligence on any investment, and to consult their own financial adviser or representative when necessary. Any material provided is intended as general information only, and should not be considered or relied upon as a formal investment recommendation.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from a broker or financial adviser before making any investment decisions. Any material in this article should be considered general information and not relied on as a formal investment recommendation.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.