Lucid Gr Stock (NASDAQ:LCID), Trade Ideas

Lucid Gr

Lucid Group Inc is a technology and automotive company. It develops the next generation of electric vehicle (EV) technologies. It is a vertically integrated company that designs, engineers, and builds electric vehicles, EV powertrains, and battery systems in-house using our own equipment and factory.

UK electric cars

Equities

News

General

LCID

RIVN

TSLA

XPEV

The future of the automotive industry looks upbeat, with almost one-third of cars on China&#39;s roads expected to be electric by 2030, along with nearly one-fifth in both the U.S. and the European Union, according to a report by the International Energy Agency (IEA).

Automotive Industry Shifts Gears: Electric Cars To Dominate Roads By 2030

lucid-air-sapphire-salt-flats-front

Movers

Last week, Lucid revealed new details about the 2024 Lucid Air Grand Touring, including an EPA-estimated range of 516 miles, the longest range of any EV in the U.S. market currently, and a starting price of $109,900.

What&#39;s Going On With Luxury EV-Maker Lucid&#39;s Stock?

Tilgurg,,Netherlands,-,September,25,,2016:,Tesla,Motors,Assembly,Plant

FFIE

GOEV

HYZN

KARS

NKLA

WKHS

The decline in EV adoption has also affected industry leader Tesla, leaving the future uncertain for other startups in the sector.

Tesla&#39;s Horror Week Ends With Another Price Cut, Rivian&#39;s Second Round Of Layoffs, Lucid Touts Longest-Range Domestic EV And More: Biggest EV Stories Of The Week

Lucid Group Inc

<p>Goldman Sachs  analyst Kash Rangan   maintains Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with a Buy and raises the price target from $450 to $515.</p>


Price Target

Analyst Ratings

MSFT

Goldman Sachs Maintains Buy on Microsoft, Raises Price Target to $515

<p>Scotiabank  analyst Patrick Colville   initiates coverage on Rapid7 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPD#NASDAQ">RPD</a>) with a Sector Perform rating and announces Price Target of $46.</p>


Initiation

Scotiabank Initiates Coverage On Rapid7 with Sector Perform Rating, Announces Price Target of $46

WIIM

AVTR

Avantor shares are trading lower after the company reported worse-than-expected Q1 sales results and reiterated FY24 guidance.

<p>The BMP kit runs on Bio-Techne&#39;s Ella&trade;, a benchtop automated immunoassay platform leveraging Bio-Techne&#39;s R&amp;D Systems branded reagents to deliver accurate, reliable, and highly reproducible data in less than 90 minutes. Ella&#39;s microfluidic-based cartridges with separate channels enable precision multiplexing in a hands-free system, making it ideal for diagnostic clinical use. Novomol-Dx relied on a proprietary algorithm to develop the normative data, disease-associated data, and AI-based predictive algorithms for ocular surface and retinal conditions. The complete solution is branded as BioM-Pathfinder. The novel applications for the BMP kit are in Dry Eye Disease, Diabetic Retinopathy and patient stratification or monitoring associated with ocular surgeries and treatments.&nbsp;</p>


Health Care

Contracts

TECH

Bio-Techne And Novomol-Dx Have Announced The Development Of Bio-marker Pathfinder, An Ocular Biomarker Kit, As A Point-Of-Care Application

<p><strong>Southwest Airlines Co</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) may reconsider its traditional open seating policy, opting for assigned seats and premium options to attract younger travelers.</p>
<p>The potential change, marking a departure from its historic model, is under serious consideration. CEO Bob Jordan hinted at the airline&#8217;s evolving approach, emphasizing the importance of understanding and meeting customer expectations, reported&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-25/southwest-air-is-considering-ditching-unassigned-seating?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.</p>
<p>This significant shift could be the most substantial adjustment since the airline&#8217;s inception in 1971.</p>
<p>The airline&#8217;s executives have been evaluating evolving passenger preferences, acknowledging the industry&#8217;s shift towards premium offerings, the report read.</p>
<p>However, they&#8217;ve maintained a cautious&nbsp;approach,&nbsp;awaiting confirmation of sustained trends.&nbsp;An official decision on seating arrangements, along with other strategic initiatives like red-eye flights, is anticipated at an investor day event in September, the report added.</p>
<p>In its earnings report yesterday, the company revealed its decision to close its operations at Bellingham International Airport, Cozumel International Airport,&nbsp;Houston&#8217;s&nbsp;George Bush Intercontinental Airport, and Syracuse Hancock International Airport.&nbsp;</p>
<p><strong><em>Related</em></strong><em>:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38435109/southwest-airlines-record-passenger-numbers-overshadowed-by-q1-earnings-slump-and-boeing-setbacks" rel="noreferrer noopener">Southwest Airlines&#8217; Record Passenger Numbers Overshadowed By Q1 Earnings Slump And Boeing Setbacks</a></em></p>
<p>Chief Commercial Officer Ryan Green highlighted Southwest&#8217;s historical aversion to altering its no-frills approach but acknowledged incremental changes over time.</p>
<p>Despite its initial resistance, the airline has embraced technology enhancements and expanded sales channels beyond its website.</p>
<p>With current flights often operating at&nbsp;full&nbsp;capacity, Southwest recognizes the need to address evolving customer expectations.</p>
<p>The potential shift in seating policy is under scrutiny, with careful consideration of its operational impact and alignment with customer preferences.</p>
<p>&#8220;There&#8217;s no decision,&#8221; Jordan affirmed, emphasizing the importance of data-driven insights to determine the best&nbsp;course of&nbsp;action.</p>
<p>Southwest Airlines stock lost over 11% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;<strong>U.S. Global Jets ETF</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and&nbsp;<strong>IShares U.S. Transportation ETF</strong>&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).</p>
<p><strong><em>Read Next</em></strong><em>:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38412947/airline-passenger-rights-elevated-biden-administration-enforces-refund-rule" rel="noreferrer noopener">Airline Passenger Rights Elevated: Biden Administration Enforces Refund Rule</a></em></p>
<p><strong>Price Action</strong>: LUV shares closed lower by 6.96% at $27.26 on Thursday.</p>
<p><strong><em>Disclaimer</em></strong><em>: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Image by Around the World Photos via Shutterstock</em></p>


Media

iShares Dow Jones Transportation Average Index Fund

JETS

Southwest Airlines May Ditch 'Open Seating' To Make More Money From 'Premium Seating' Options

<p>Scotiabank  analyst Patrick Colville   initiates coverage on Qualys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLYS#NASDAQ">QLYS</a>) with a Sector Perform rating and announces Price Target of $172.</p>


QLYS

Scotiabank Initiates Coverage On Qualys with Sector Perform Rating, Announces Price Target of $172

SATS

EchoStar Corporation Says Unit  Hughes Network Systems Opens New Manufacturing Facility And Private 5G Incubation Center In Germantown, Maryland, To Boost Local Talent

<p>Evercore ISI Group  analyst Kirk Materne   maintains Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with a Outperform and raises the price target from $475 to $485.</p>


Evercore ISI Group Maintains Outperform on Microsoft, Raises Price Target to $485

<p>Needham  analyst Scott Berg   reiterates SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) with a Buy and maintains $205 price target.</p>


Reiteration

SPSC

Needham Reiterates Buy on SPS Commerce, Maintains $205 Price Target

Earnings

Guidance

Newell Brands Reaffirms 2024 Normalized EPS Of $0.52-$0.62 Versus Consensus Of $0.57

Newell Brands Reaffirms 2024 Sales Decline Of 8%-5%, With Core Sales To Fall Between 6% to 3%

Newell Brands Forecasts Q2 Normalized EPS Of $0.18-$0.21 Versus Consensus Of $0.25

Newell Brands Forecasts Q2 Sales Decline Of 9%-7%, With Core Sales To Fall Between 6% to 4%

SLCA

U.S. Silica Stockholders Will Receive $15.50 Per Share In Cash For Each Share They Owned, Representing 18.7% Premium To Closing Share Price As On April 25, 2024

<ul>
<li>First quarter&nbsp;total residential and small and medium business (&quot;SMB&quot;) Internet customers decreased by 72,000. As of&nbsp;March 31, 2024, Charter served a total of 30.5 million residential and SMB Internet customers.</li>
<li>First quarter&nbsp;total residential and SMB mobile lines increased by 486,000. As of&nbsp;March 31, 2024, Charter served a total of 8.3 million mobile lines.</li>
<li>As of&nbsp;March 31, 2024, Charter had a total of 32.0 million residential and SMB customer relationships, excluding mobile-only relationships.</li>
</ul>


CHTR

As of March 31, 2024, Charter Communications Served 30.5M Residential and SMB Internet Customers, 8.3M Mobile Lines

TROW

T. Rowe Price shares are trading higher following better-than-expected Q1 financial results.

<p>Interactive Strength &nbsp;announced that it had converted $3.0 million of the Company's $8.0 million senior loan to equity and extended the maturity of the remaining loan balance to December 2024.</p>


TRNR

Interactive Strength Says It Strengthened Balance Sheet By Partially Converting Senior Loan To Equity And Extending Maturity; Company Reduced Liability Of Senior Loan by Converting $3.0M To Equity

<p>Stellar Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEL#NYSE">STEL</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.48 by 2.08 percent. This is a 30 percent decrease over earnings of $0.70 per share from the same period last year.  The company reported quarterly sales of $108.414 million which beat the analyst consensus estimate of $107.136 million by 1.19 percent.  This is a 12.09 percent decrease over sales of $123.325 million the same period last year.</p>


Earnings Beats

STEL

Stellar Bancorp Q1 2024 GAAP EPS $0.49 Beats $0.48 Estimate, Sales $108.414M Beat $107.136M Estimate

<p>T. Rowe Price Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>) reported quarterly earnings of $2.38 per share which beat the analyst consensus estimate of $2.04 by 16.67 percent.  The company reported quarterly sales of $1.750 billion which beat the analyst consensus estimate of $1.715 billion by 2.06 percent.  This is a 13.78 percent increase over sales of $1.538 billion the same period last year.</p>


T. Rowe Price Gr Q1 2024 Adj EPS $2.38 Beats $2.04 Estimate, Net Revenues $1.750B Beat $1.715B Estimate

<p>Constantino will also continue to support XP in an advisory role for a 12-month period after the transition and will remain a member of XP&#39;s Board of Directors. In addition, current Head of Investor Relations Andr&eacute; Parize, who has been named Chief Investor Relations Officer, effective August 1, 2024, will report to Mr. Mansur.</p>


Management

XP Names Victor Mansur As CFO Effective August 1, 2024, Succeeding Bruno Constantino

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Despite a week of mostly growth, things have been looking grim for <strong>Lucid Motors </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a></span>) lately. The trendy electric vehicle (EV) startup is battling a difficult economic landscape that only seems to be getting more complicated. While navigating it is difficult for many automakers, LCID stock just hit a low for the year, dipping as low as $2.38 per share. This signals that things are worse for it than some of its peers. </p>



<p>But even after hitting this negative milestone, Lucid is working hard to rebound. Shares are in the green today, currently up about 1% and slowly continuing to climb. For a company that has struggled so much lately, this type of resilience is noteworthy. </p>



<h2>What&rsquo;s Happening With LCID Stock </h2>



<p>There&rsquo;s no denying that the past six months have seen LCID stock fall significantly. It trades below the penny stock line, which has likely discouraged many investors. But its important to note that the recent declines that pushed Lucid to a 52-week low are not due to company-specific factors. Rather, they can be mostly attributed to problems facing the broader EV market. Let&rsquo;s take a look at the factors that are weighing on most <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a>. </p>



<p>Firstly, the popularity of EVs has been called into question lately amid <a href="https://www.businessinsider.com/hybrids-more-popular-than-evs-toyota-ford-tesla-cars-electric-2024-3">surging hybrid vehicle sales</a>. These fellow new-energy vehicles are also fuel efficient and typically come with fairly low sticker prices. This makes their popularity a threat to automakers who only build highly priced EVs, of which Lucid is a prime example. This trend has cast some doubt over companies like Lucid, whose growth depends on consumers wanting to purchase high-end luxury EVs.</p>



<p>Secondly, multiple EV players have announced layoffs lately. <strong>Tesla</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) just opted to <a href="https://www.fastcompany.com/91112195/tesla-layoffs-update-2024-california-texas-employees-job-losses">reduce its global workforce</a> by more than 10%, which will impact roughly 14,000 workers. Fellow EV startup <strong>Rivian</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/rivn-stock-quote/"><strong>RIVN</strong></a></span>) has implemented multiple rounds of layoffs just in 2024, including <a href="https://investorplace.com/2024/04/rivian-layoffs-2024-what-to-know-about-the-latest-round-of-rivn-job-cuts/">further reductions</a> it announced last week. </p>



<p>Neither of these companies is Lucid. However, Tesla is the leader in the EV sector, and Rivian is one of Lucid&rsquo;s closest peers. Therefore, it makes sense that bad news from both would push LCID stock down. </p>



<h2>Some Good News</h2>



<p>Even with the many problems facing EV stocks right now, there&rsquo;s reason to believe Lucid may be destined for a turnaround. Citi recently <a href="https://eletric-vehicles.com/lucid/citi-resumes-coverage-on-lucid-shares-praises-upcoming-gravity-suv/">resumed coverage</a> of the company, setting a bullish price target of $2.90 for LCID stock. As <em>ElectricVehicles.com</em> reports, &ldquo;the firm emphasises Lucid&rsquo;s &lsquo;strong&rsquo; electric vehicle (EV) technology although it raises concern on the execution risk for the upcoming model planned for late 2024 Gravity.&rdquo;</p>



<p>Moreover, speculation continues to rise that a <a href="https://investorplace.com/2024/04/3-short-squeeze-stocks-to-buy-for-100-returns-in-q2-2024/">Lucid short squeeze</a> could be coming. InvestorPlace contributor Faisal Humayun notes that while the company&rsquo;s cash burning may be a concern for some, Lucid still has &ldquo;ample financial flexibility&rdquo; and can, therefore, make further growth-driving investments. For all the problems it has faced this year, Lucid is determined to prove that it shouldn&rsquo;t be counted out. </p>



<p><em>On the date of publication, Samuel O&rsquo;Brient&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.</em></p>
<div><p>Samuel O&rsquo;Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O&rsquo;Brient writes a weekly column on recent political news that investors should be following.</p></div><h3>More From InvestorPlace</h3>
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	<p>The post <a href="https://investorplace.com/2024/04/lcid-stock-alert-why-lucid-motors-just-hit-a-new-52-week-low/">LCID Stock Alert: Why Lucid Motors Just Hit a New 52-Week Low</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

LCID Stock Alert: Why Lucid Motors Just Hit a New 52-Week Low

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>Vertiv </strong>(NYSE:<a href="https://investorplace.com/stock-quotes/vrt-stock-quote/"><strong>VRT</strong></a>) stock is in the rise today as investors celebrate the artificial intelligence (<a href="https://investorplace.com/stock-quotes/ai-stock-quote/"><strong>AI</strong></a>) boom helping out the data center cooling company&rsquo;s business.</p>



<p>The increase in demand for its data center cooling products resulted in <a href="https://www.businesswire.com/news/home/20240423045499/en/Vertiv-Reports-60-Organic-Orders-Growth-8-Net-Sales-Growth-in-First-Quarter-Updates-Full-Year-2024-Outlook">a 60% increase </a>year-over-year in orders during the company&rsquo;s first quarter of 2024. That resulted in net sales climbing 8% higher to $1.64 billion. This beats out Wall Street&rsquo;s estimate of $1.62 billion.</p>



<p>Giordano Albertazzi, CEO of Vertiv, provided the following insight on the company&rsquo;s performance.</p>




<p>&ldquo;We are seeing order patterns with longer lead times based on customer build schedules, largely in 2025 and beyond, suggesting AI is starting to scale. Though still in its early stages, AI is quickly becoming a pervasive theme across our end markets. Continued advances in GPU development and other AI-enabling technologies are necessitating changes and upgrades to the critical digital infrastructure.&rdquo;</p>




<h2>What&rsquo;s Next for VRT Stock?</h2>



<p>Strong AI demand has Vertiv increasing its outlook for 2024. It now expects adjusted EPS to range from $2.29 to $2.35 alongside revenue between $7.54 billion and $7.69 billion. For comparison, Wall Street is predicting adjusted EPS of $2.30 on revenue of $7.63 billion.</p>



<p>VRT stock is up 10.9% as of Wednesday morning with more than 14 million shares traded. That&rsquo;s well above its daily average trading volume of about 8.3 million shares.</p>



<p>Investors will want more of the hottest stock market stories below!</p>



<p>We have all of the latest stock market news worth reading about on Wednesday! Among that is what has shares of <strong>Lucid Motors&nbsp;</strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a>), <strong>B. Riley</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rily-stock-quote/"><strong>RILY</strong></a>) and <strong>VinFast&nbsp;</strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/vfs-stock-quote/"><strong>VFS</strong></a>) stock in the news today. All of that info is available at the following links!</p>



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/lcid-stock-alert-why-lucid-motors-just-hit-a-new-52-week-low/">LCID Stock Alert: Why Lucid Motors Just Hit a New 52-Week Low</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-b-riley-rily-stock-up-30-today/">Why Is B. Riley (RILY) Stock Up 30% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/vfs-stock-vinfast-pops-on-12-new-dealer-agreements/">VFS Stock: VinFast Pops on 12 New Dealer Agreements</a></li>
</ul><p><em>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em></p>
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	<p>The post <a href="https://investorplace.com/2024/04/vrt-stock-pops-vertiv-is-the-next-big-ai-winner/">VRT Stock Pops. Vertiv Is the Next Big AI Winner.</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

VRT Stock Pops. Vertiv Is the Next Big AI Winner.

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>SunPower </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/spwr-stock-quote/"><strong>SPWR</strong></a>) layoffs have the have the solar technology and energy services company <a href="https://finance.yahoo.com/news/solar-firm-sunpower-reduce-workforce-132354186.html">cutting 1,000 jobs</a> to reduce operating costs.</p>



<p>SunPower notes that these layoffs will result in charges of about $28 million. The cuts are expected to start in the next few days and could last for a few weeks. It&rsquo;s worth mentioning that these are a large number of cuts considering the company&rsquo;s total headcount is 4,710 full-time employees.</p>



<p>Alongside these job cuts is SunPower announcing that it will close down certain divisions. The layoffs will see the company shutter its SunPower Residential Installation facilities and its SunPower Direct sales unit.</p>



<p>SunPower points out that these job cuts come as demand for solar panels is dwindling. It says it will switch to a low fixed-cost model to give it better resilience against market fluctuations, <em>Reuters </em>notes.</p>



<h2>SunPower Layoffs Continue Trend</h2>



<p>SunPower joins a growing list of companies that have been cutting jobs ever since the end of the Covid-19 lockdowns. That&rsquo;s resulted in many businesses reducing headcounts as they&rsquo;ve seen demand decrease post-pandemic.</p>



<p>All of that comes after inflation took off after the lockdowns. That&rsquo;s also resulted in increased interest rates from the Federal Reserve to combat inflation. These two factors continue to weigh on the economy, consumers and businesses.</p>



<p>SPWR stock is down 2.3% as of Wednesday morning.</p>



<p>There are still more stock market stories that traders will want to read about today!</p>



<p>Fortunately, we have all of that news collected in one place for investors! Our coverage of the stock market on Wednesday includes what&rsquo;s going on with <strong>Fisker&nbsp;</strong>(OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/"><strong>FSRN</strong></a>), <strong>Vertiv&nbsp;</strong>(NYSE:<a href="https://investorplace.com/stock-quotes/vrt-stock-quote/"><strong>VRT</strong></a>) and <strong>Lucid Motors&nbsp;</strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a>) shares. All of that info is available below!</p>



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/fisker-stock-alert-fisker-braces-for-more-layoffs/">Fisker Stock Alert: Fisker Braces for More Layoffs</a></li>



<li><a href="https://investorplace.com/2024/04/vrt-stock-pops-vertiv-is-the-next-big-ai-winner/">VRT Stock Pops. Vertiv Is the Next Big AI Winner.</a></li>



<li><a href="https://investorplace.com/2024/04/lcid-stock-alert-why-lucid-motors-just-hit-a-new-52-week-low/">LCID Stock Alert: Why Lucid Motors Just Hit a New 52-Week Low</a></li>
</ul><p><em>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em></p>
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	<p>The post <a href="https://investorplace.com/2024/04/sunpower-layoffs-2024-what-to-know-about-the-latest-spwr-job-cuts/">SunPower Layoffs 2024: What to Know About the Latest SPWR Job Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

SunPower Layoffs 2024: What to Know About the Latest SPWR Job Cuts

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>While <strong>Tesla&rsquo;s</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a>) recent earnings report sent the EV market roaring back with a double-digit recovery, not all EV players are so fortunate. Most <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> are diluting existing shareholders to keep their sinking businesses afloat. These &ldquo;hopeless&rdquo; EV companies lack the competitive edge and financial runway to truly challenge the industry&rsquo;s heavyweights.</p>



<p>Are you holding onto any of these hopeless EV stocks, clinging to the false hope of a miraculous turnaround? It&rsquo;s time to face the harsh reality: these companies are on a collision course with bankruptcy, and the only smart play is to cut your losses before they go to zero. Their business models are riddled with gaping holes, and their cash reserves are dwindling faster than a desert oasis in a drought.</p>



<p>Don&rsquo;t let the siren song of a &ldquo;discounted&rdquo; stock price lure you in. These EV stocks are discounted for a reason. In my view, you should avoid buying into an EV company that isn&rsquo;t at or near profitability. It should at least have enough cash to grow into profitability. If not, you&rsquo;ll be the one footing the bill through endless dilution. Here are the three EV stocks to sell that I think meet these criteria.</p>



<h2>Mullen (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/muln-stock-1-300x169.jpg" alt="A close-up shot of the gold Mullen (MULN) FIVE."><div>Source: Sam the Leigh / Shutterstock.com</div></div><p>When it comes to&nbsp;<strong>Mullen</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/"><strong>MULN</strong></a>), we&rsquo;re witnessing a textbook case of a company caught in a vicious cycle of dilution and value destruction. This EV upstart has been on a relentless tear, repeatedly diluting shareholders and executing reverse splits &ndash; a surefire recipe for investment carnage.</p>



<p>Mullen&rsquo;s financials are a train wreck. With zero revenue and a business model that screams &ldquo;money pit,&rdquo; the company has resorted to death spiral financing to stay afloat. Indeed, the dilution numbers are staggering. Mullen undertook a cumulative <a href="https://investorplace.com/2023/12/muln-stock-alert-mullen-will-enact-a-1-for-100-reverse-split-dec-21/">1-for-22,500 reverse split ratio</a> in 2023 alone. Even if Mullen somehow became the next Tesla, shareholders would&nbsp;be left&nbsp;with mere crumbs after such egregious dilution. Management seems more focused on enriching themselves than creating shareholder value. Mullen is hands-down one of the top EV stocks to sell in this market.</p>



<h2>VinFast (VFS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/vfs1600-2-300x169.png" alt="Vinfast (VFS) cars at test drive event in Vung Tau Beach."><div>Source: PhatTai / Shutterstock.com</div></div><p><strong>VinFast</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/vfs-stock-quote/"><strong>VFS</strong></a>) initially piqued interest as an affordable EV play from Vietnam, a low-cost manufacturing hub. However, digging deeper, investors see a company that&rsquo;s hemorrhaging cash at an unsustainable rate, with analysts <a href="http://seekingalpha.com/symbol/VFS/earnings/estimates">not forecasting profitability until 2030</a>.</p>



<p>While low Vietnamese labor costs seem enticing on paper, they mask the harsh reality of negative 50% gross margins. VinFast&rsquo;s affordable pricing comes at a steep&nbsp;cost. The company is posting crushing losses with each vehicle sold.&nbsp;In&nbsp;a capital-intensive industry where scale and efficiency are paramount, such an unviable business model raises existential questions.</p>



<p>Moreover, the global shift towards production on-shoring presents a looming threat to foreign automakers like VinFast. As supply chain resilience takes center stage, can a Vietnamese upstart realistically compete with streamlined juggernauts like Tesla or Chinese giants? The odds seem stacked against VinFast&rsquo;s long-term survival.</p>



<h2>Lucid (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/lcid1600-2-300x169.png" alt="Lucid Air Touring sedan display at the Service Center. Lucid Motors (LCID) is a manufacturer of luxury EV Electric Vehicles."><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p>Of the three,&nbsp;<strong>Lucid</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a>) stands out as the most prominent EV maker on this list,&nbsp;but that&rsquo;s not necessarily a good thing.&nbsp;With a massive $3.9 billion cash pile, Lucid has the resources to dream big. However, that cash pile is dwindling fast, with a staggering <a href="https://www.google.com/finance/quote/LCID:NASDAQ">$654 million burned in Q4 2023</a> alone amid negative 416% net margins.</p>



<p>Analysts don&rsquo;t anticipate profitability until 2029. By then, Lucid&rsquo;s cash reserves could&nbsp;be depleted, leaving it at the mercy of further dilution or a Saudi bailout. That&rsquo;s a risky proposition, given the Kingdom&rsquo;s checkered investment track record.</p>



<p>Lucid is essentially a Saudi state-owned enterprise&nbsp;at this point, delivering a paltry few hundred vehicles monthly at massive losses. Unless you have the stomach for massive volatility and dilution risk, Lucid&nbsp;is best avoided&nbsp;by retail investors seeking stable returns.</p>



<p><em>On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a></em></p>
<div><p>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/3-hopeless-ev-stocks-to-sell-before-they-go-to-zero/">3 Hopeless EV Stocks to Sell Before They Go to Zero</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Hopeless EV Stocks to Sell Before They Go to Zero

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Electric vehicle (EV) stocks are in a tizzy, communicated by <strong>Tesla&rsquo;s</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) more than <a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">40%</a> year-to-date slump. If that doesn&rsquo;t provide enough evidence, consider the <strong>Global X Autonomous &amp; Electric Vehicles ETF</strong>&lsquo;s (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/driv-stock-quote/"><strong>DRIV</strong></a></span>) near <a href="https://investorplace.com/stock-quotes/driv-stock-quote/">10%</a> year-to-date drawdown.</p>



<p>Although recent results show that&nbsp;<a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> are under pressure, key metrics indicate numerous EV stocks are oversold. For example, a forecasted annual growth rate of&nbsp;<a href="https://www.fortunebusinessinsights.com/industry-reports/electric-vehicle-market-101678" target="_blank">17.8%</a>&nbsp;until 2030 suggests the industry maintains a robust fundamental outlook. Moreover, DRIV ETF has a relative strength index of around&nbsp;<a href="https://seekingalpha.com/symbol/DRIV/momentum/performance" target="_blank">32</a>, implying that market participants have overreacted.</p>



<p>My outlook on EV stocks is merely one among many. As such, it is up to you to decide whether your outlook aligns with mine. However, if you share my positivity, here are three EV stocks to consider.</p>



<h2>BYD Company Limited (BYDDF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/byddf-stock-1-300x169.jpg" alt="A close-up view of the power supply plugged into a vehicle from BYD Company (BYDDY)."><div>Source: J. Lekavicius / Shutterstock.com</div></div><p><strong>BYD Company Limited</strong>&nbsp;(OTCMKTS:<strong><a href="https://investorplace.com/stock-quotes/byddf-stock-quote/" target="_blank">BYDDF</a></strong>) stock has lost nearly <a href="https://investorplace.com/stock-quotes/byddf-stock-quote/">10%</a> of its value since the turn of the year, driven by systematic features like a broad-based drawdown in EV stocks and inconsistent consumer patterns.</p>



<p>Although industry-based wobbles have occurred, BYD Company&rsquo;s fundamentals remain robust. For example, BYD Company&rsquo;s first-quarter sales climbed to&nbsp;<a href="https://seekingalpha.com/news/4086043-byd-q1-vehicle-sales-climb-624k" target="_blank">624,000</a>, a 14% year-to-date increase. Moreover, BYD released its full-year results in March, revealing an 80% surge in its net profit margin to&nbsp;<a href="https://seekingalpha.com/news/4084079-byd-companys-profit-for-fy23-soared-80-to-rmb-3004b-amid-rise-in-sales-volume" target="_blank">RMB30.04 billion</a>&nbsp;(approximately $2.77 billion).</p>



<p>I believe the key to BYD Company&rsquo;s success is due to its successful product development paired with margin expansion initiatives.&nbsp;In fact,&nbsp;the latter&nbsp;is emphasized&nbsp;by BYD Company&rsquo;s return on&nbsp;common&nbsp;equity ratio (ROE) of&nbsp;<a href="https://seekingalpha.com/symbol/BYDDF/profitability" target="_blank">24.02%</a>, exceeding its five-year average by 1.67x. Additionally, BYD Company&rsquo;s market share grew to&nbsp;<a href="https://www.statista.com/statistics/541390/global-sales-of-plug-in-electric-vehicle-manufacturers/" target="_blank">22%</a>&nbsp;in 2023, suggesting it has economies of scale at its disposal, allowing it to enhance its footprint in the coming years.</p>



<p>I&rsquo;m sure the above-mentioned&nbsp;data points illustrate BYD Company&rsquo;s fundamental resilience. However, the question beckons: Is BYD stock undervalued? Well, BYD&rsquo;s forward price-to-sales ratio of&nbsp;<a href="https://seekingalpha.com/symbol/BYDDF/valuation/metrics" target="_blank">0.72x</a>&nbsp;illustrates top-line value. In addition, BYD stock sports a price-to-earnings-growth ratio of 0.22x, suggesting its earnings-per-share growth is blemish-free.</p>



<p>So, to answer the&nbsp;question, Yes, BYD stock is grossly undervalued and likely to recover!</p>



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/li1600-2-300x169.png" alt="The steering wheel and dashboard inside Li Auto electric car. Interior of Li Auto EV. Li Auto Also known as Li Xiang, is a Chinese electric vehicle company"><div>Source: Robert Way / Shutterstock.com</div></div><p><strong>Li Auto</strong>&nbsp;(NASDAQ:<strong><a href="https://investorplace.com/stock-quotes/li-stock-quote/" target="_blank">LI</a></strong>) is a contrarian play in many ways. The company&rsquo;s stock price is down by more than <a href="https://investorplace.com/stock-quotes/li-stock-quote/">30%</a> year-to-date due to lower sales volumes and systemic financial market pressure. However, key metrics suggest LI stock&nbsp;is set&nbsp;to recover; here&rsquo;s why.</p>



<p>Much of Li Auto&rsquo;s latest problems derive from lower delivery volumes. Although Li Auto&rsquo;s March deliveries of&nbsp;<a target="_blank" href="https://seekingalpha.com/news/4085401-li-auto-surprises-with-strong-q1-exceeds-guidance-and-reaches-700000-delivery-milestone">28,984</a>&nbsp;represent a year-to-date high, the line item remains below its ten-month high of 50,353. However, Li Auto&rsquo;s demand-side factors&nbsp;are set&nbsp;to improve as the company has embarked on&nbsp;<a target="_blank" href="https://seekingalpha.com/news/4091810-li-auto-shares-slide-after-matching-tesla-price-cuts">model-wide price cuts</a>.</p>



<p>Some market participants are worried about Li Auto&rsquo;s price cuts, but I&rsquo;m not.&nbsp;I mean, why&nbsp;should I be?&nbsp;Li Auto has an&nbsp;<a target="_blank" href="https://seekingalpha.com/symbol/LI/profitability">ROE of 22.29%</a>&nbsp;and a net income margin of 9.45% (1.08x higher than the sector median). These metrics allow Li Auto to use price cuts to stimulate demand and enhance shareholder value.</p>



<p>Lastly, Li Auto&rsquo;s stock looks good from a capital markets perspective. For instance, Li Auto&rsquo;s forward price-to-sales ratio&nbsp;of&nbsp;<a href="https://seekingalpha.com/symbol/LI/valuation/metrics" target="_blank">0.91x</a>&nbsp;suggests it is grossly undervalued. Additionally, Li Auto&rsquo;s enterprise value-to-sales ratio of 0.70x is at a sectoral discount worth 43.21%, conveying relative value.</p>



<h2>Lucid Group (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/lcid-1600-1-300x169.png" alt="Closeup of the Lucid logo seen at a Lucid showroom in Millbrae, California. LCID stock."><div>Source: Tada Images / Shutterstock</div></div><p><strong>Lucid Group</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/lcid)-stock-quote/"><strong>LCID</strong></a></span>) has tanked since the start of the trading year, losing more than <a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">40%</a> of its market value. The asset&rsquo;s poor performance has dragged LCID stock&rsquo;s relative strength index down to about&nbsp;<a href="https://seekingalpha.com/symbol/LCID/momentum/performance" target="_blank">31</a>, communicating a potential buy-the-dip opportunity; let&rsquo;s delve into Lucid&rsquo;s key variables to&nbsp;find out&nbsp;if it is oversold.</p>



<p>I picked up a few&nbsp;salient points that could influence Lucid. Firstly, <strong>JPMorgan</strong> (NYSE:<strong><a href="https://investorplace.com/stock-quotes/jpm-stock-quote/" target="_blank">JPM</a></strong>) recently declared Lucid stock a&nbsp;<a href="https://seekingalpha.com/news/4089025-10-attractive-sell-puts-within-the-russell-1000-jpm" target="_blank">top-ten Put option writing idea</a>. Although option premiums were the main talking point, selling put options generally requires a bullish outlook on the underlying stock price, which is why I consider this a positive indicator.</p>



<p>Furthermore, Lucid&nbsp;<a target="_blank" href="https://seekingalpha.com/news/4090643-lucid-group-posts-details-on-the-air-grand-touring-model-including-lower-pricing">revealed additional</a>&nbsp;details about its 2024 Lucid Air Grand Touring model last Wednesday. The firm&rsquo;s management communicated encouraging features, such as an estimated range of 516 miles and enhanced DC charging times. Sure, market-based variables forced Lucid Group&rsquo;s model pricing down to $109,900 from its initial $125,600. However, most pricing headwinds are industry-driven rather than structural issues pertaining to Lucid.</p>



<p>While Lucid may be perceived as a risky investment due to its current loss, Lucid&rsquo;s price-to-sales ratio of <a href="https://seekingalpha.com/symbol/LCID/valuation/metrics">8.32x</a> is at a cyclical discount of nearly 98%, suggesting relative value is in store. Moreover, I anticipate that solid product execution and long-term cost-cutting initiatives will drive LCID stock into net undervalued territory.</p>



<p>I think LCID is oversold and underappreciated!</p>



<p><em>On the date of publication, Steve Booyens did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a></em>.</p>
<div><p>Steve Booyens co-founded Pearl Gray Equity and Research in 2020 and has been responsible for institutional equity research and PR ever since. Before founding the firm, Steve spent time working in various finance roles in London and South Africa. He holds an MSc in Investment Banking from Queen Mary &ndash; University of London. Furthermore, Steve has passed all CFA Levels and is working toward his Ph.D. in Finance. His articles are published on various reputable web pages such as Seeking Alpha, TipRanks, Yahoo Finance, and Benzinga. Steve&rsquo;s articles on InvestorPlace form an interesting juxtaposition between mainstream opinion and objective theory. Readers can expect coverage on frequently traded stocks, REITs, fixed-income funds, CEFs, and ETFs.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/prepare-for-a-charge-3-electric-vehicle-stocks-to-buy-before-an-ev-rebound/">Prepare for a Charge: 3 Electric Vehicle Stocks to Buy Before an EV Rebound</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Prepare for a Charge: 3 Electric Vehicle Stocks to Buy Before an EV Rebound

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Some stocks are ideal for short-term trading because they&rsquo;re fast movers. In contrast, <strong>General Motors</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/"><strong>GM</strong></a>) stock is meant to be bought and held for a long time. Indeed, it&rsquo;s not an insult to call General Motors a &ldquo;legacy&rdquo; automaker as the company is an American icon with <a href="https://www.tipranks.com/stocks/gm/earnings">consistent quarterly profits</a>.</p>



<p>Frankly, if you&rsquo;re in the market for something unpredictable and risky, you can always buy <strong>Tesla</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a>) stock. Or, you can invest in a startup automaker like <strong>Lucid Group</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a>) or <strong>Rivian Automotive</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/"><strong>RIVN</strong></a>). For a reliable income source, however, I encourage you to set your sights on General Motors. </p>



<h2>General Motors <em>Doesn&rsquo;t</em> Double Down on Robotaxis</h2>



<p>If you&rsquo;re a &ldquo;steady Eddie&rdquo; type of investor, you may choose to reduce your portfolio&rsquo;s exposure to risky, unproven concepts. For example, you might not be fully on board with self-driving taxis, also known as robotaxis.</p>



<p>If that&rsquo;s the case, then you should know that Tesla and its mercurial chief executive, Elon Musk, are basically doubling down on robotaxis. </p>



<p>According to a report from <em>Electrek</em> (via <em>Yahoo! Finance</em>), Musk is <a href="https://finance.yahoo.com/news/tesla-stock-slides-as-musk-pushes-deeper-into-robotaxis-174408390.html">scrapping a proposed plan</a> to build $25,000 electric vehicles (EVs) and instead &ldquo;asked for all resources to go into the Robotaxi program.&rdquo;</p>



<p>That move is either bold or foolhardy, depending on how you feel about robotaxis. Unlike Tesla, General Motors is actually dialing back its investment in robotaxis. </p>



<p>Specifically, General Motors <a href="https://finance.yahoo.com/news/gm-ford-count-gas-powered-100536158.html">expects to reduce</a> its spending on the automaker&rsquo;s Cruise division by $1 billion in 2024 (Cruise is the money-losing autonomous-driving unit that General Motors acquired back in 2016).</p>



<h2>General Motors&rsquo; Powerful Electrification Concept</h2>



<p>Don&rsquo;t get the wrong idea. Just because General Motors isn&rsquo;t pouring too much capital into robotaxis, doesn&rsquo;t mean the company isn&rsquo;t taking chances and innovating new product concepts.</p>



<p>General Motors is an old company that&rsquo;s willing to try out fresh ideas. As an example of this, General Motors-owned GM Energy is <a href="https://finance.yahoo.com/news/gm-energy-rolls-product-suite-130000000.html">rolling out a product</a> that can transfer power from an EV to a home, and vice versa.</p>



<p>It&rsquo;s an intriguing concept that General Motors calls &ldquo;vehicle-to-home (V2H) bidirectional charging technology.&rdquo; It&rsquo;s designed to &ldquo;provide power from a compatible GM EV to a properly equipped home.&rdquo;</p>



<p>Think about when there&rsquo;s a storm and the power goes out in a home. With V2H technology, you wouldn&rsquo;t just have to wait around for the electric company to restore the power. </p>



<p>It&rsquo;s a technology that could become commonplace in a few years &ndash; and General Motors will be an early mover in developing and commercializing this concept. </p>



<h2>It&rsquo;s Simple: Buy GM Stock, Reinvest the Dividends</h2>



<p>In some ways, General Motors is a prudent company that allocates its capital carefully. Yet, in other ways, General Motors is a bold innovator.</p>



<p>Perhaps you like the idea of V2H technology but aren&rsquo;t enthused about robotaxis. If so, it makes sense to invest in General Motors instead of trading Tesla stock.</p>



<p>General Motors recently <a href="https://www.tipranks.com/stocks/gm/dividends">raised its dividend</a>. Tesla and many automotive startups pay no dividends at all.</p>



<p>So, consider being a serious investor instead of a fickle trader. Extend your time frame to years or even decades. Pick up some GM stock shares, and when the dividend payments roll in, reinvest them for maximum long-term gains.</p>



<p><span><i>On the date of publication, David Moadel</i></span><i>&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;</i><em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a><em>.</em></p>
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<p>Just a couple of years after electric vehicles looked to be the future of the automotive industry, the stock market&rsquo;s taken a vicious turn. Now if you&rsquo;re still investing in auto stocks, you need to think more about <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> to sell than those you should be adding to your portfolio.</p>



<p>Rising interest rates in the last year put a huge damper on EV sales. EVs are more expensive than vehicles with gasoline engines, and when interest rates went up, the cost of financing an EV was suddenly out of reach for many.</p>



<p>In addition, the U.S. Department of Energy helped gasoline-powered vehicle manufacturers last month by releasing final rules that will give legacy automakers more time to meet updated fuel-economy standards and receive more mileage credits for building EVs.</p>



<p>That means that those legacy automakers can make gasoline-powered cars through 2030 while still meeting federal fuel economy requirements.</p>



<p>I&rsquo;m not convinced that EVs are dead and buried. It wouldn&rsquo;t be surprising if clean energy powers the majority of vehicles in 15 to 20 years. But that doesn&rsquo;t make EVs a smart investment today, particularly if you are closer to retirement and aren&rsquo;t willing to take a flyer on an EV stock with a long runway to profitability.</p>



<p>The Portfolio Grader evaluates stocks based on a variety of factors, including earnings performance, growth and analyst sentiment. These are some EV stocks to sell for the sake of your portfolio&rsquo;s health.</p>



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/nio1600-8-300x169.png" alt="A mobile with NIO at horizontal composition."><div>Source: Freer / Shutterstock.com</div></div><p><strong>Nio</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/"><strong>NIO</strong></a>) at one point was an extremely promising Chinese EV stock. The company had the advantage of healthy subsidies from the Beijing government, as well as an innovative battery swapping system. Instead of spending time charging a battery, Nio owners simply pull into a facility and swap their empty batteries for full ones. The process takes minutes.</p>



<p>No wonder Nio was a hot stock in its day. But that day has passed and if you&rsquo;re still holding Nio stock, you regret the decision.</p>



<p><a href="https://investorplace.com/market360/2024/04/nio-stocks-grim-reality-3-brutal-truths-dooming-the-once-promising-ev-upstart/">Nio&rsquo;s issues aren&rsquo;t easy to solve</a>. Sales growth has slowed, the company is burning cash at an alarmingly high rate, and there&rsquo;s real potential for continued shareholder dilution that would make Nio shares even less valuable.</p>



<p>Deliveries in the first quarter of 2024 are down 3% from a year ago and 10% from the previous quarter.</p>



<p>NIO stock is in penny stock territory, down 55% since Jan. 1. It gets a &ldquo;D&rdquo; rating in the Portfolio Grader.</p>



<h2>Lucid Group (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/lcid1600-2-300x169.png" alt="Lucid Air Touring sedan display at the Service Center. Lucid Motors (LCID) is a manufacturer of luxury EV Electric Vehicles."><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p><strong>Lucid Group</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a>) and Nio actually have some things in common. Both EV companies were seen to be <strong>Tesla</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a>) killers, companies that had the best potential to take the wind out of Elon Musk&rsquo;s sails.</p>



<p>As it turns out, both Nio and Lucid are crashing and burning. Tesla isn&rsquo;t doing so well itself, either, but at least it looks like it will survive the EV downturn. I can&rsquo;t say the same about Lucid and LCID stock.</p>



<p>After all, it&rsquo;s hard to be a Tesla killer when you deliver only <a href="https://investorplace.com/market360/2024/04/why-lucid-stock-is-a-flat-tire-ev-investment-to-avoid/">6,001 vehicles in all of 2023</a>, like Lucid did. And in doing so, the company lost a whopping $654 million in the fourth quarter.</p>



<p>And while Lucid got a minor bump in stock price when the Ayar Third Investment Company, which is an affiliate of Saudi Arabia&rsquo;s Public Investment Fund, agreed to buy $1 billion in Lucid Group preferred shares the stock is on a long downward spiral.</p>



<p>Lucid has already given up all of its gains following the Ayar investment. The stock is down 42% in 2024 and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.</p>



<h2>Magna International (MGA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/mga-stock-1-300x169.jpg" alt="A Magna International (MGA) sign is on the front of a Magna building in Ontario, Canada."><div>Source: JHVEPhoto / Shutterstock.com</div></div><p><strong>Magna International</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/mga-stock-quote/"><strong>MGA</strong></a>) is a Canadian automotive supplier. It can manufacture complete vehicles, or it can complete bodywork, electrical systems, powertrain modules and interior or exterior work.</p>



<p>One of its clients is <strong>Fisker</strong> (OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsr-stock-quote/"><strong>FSR</strong></a>), an EV startup that <em>also </em>was thought at one time to be a potential Tesla killer, but instead has faltered so badly that it&rsquo;s trading in over-the-counter markets now.</p>



<p>There&rsquo;s a real chance that Fisker will end up in <a href="https://investorplace.com/2024/04/fisker-risk-forces-wall-street-to-downgrade-magna-mga-stock/">bankruptcy</a>, and that&rsquo;s one of the headwinds facing Magna International these days. Evercore ISI downgraded MGA stock due to the threat.</p>



<p>MGA stock is down 16% in 2024 and gets a &ldquo;D&rdquo; rating in the Portfolio Grader.</p>



<h2>QuantumScape (QS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/qs1600-300x169.png" alt="In this photo illustration the QuantumScape (qs) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div><p><strong>QuantumScape</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a>) makes solid state lithium metal batteries for use in electric vehicles. By using solid-state lithium metal technology, the company says its batteries can be charged faster and are safer to use.</p>



<p>The company trying to make waves by <a href="https://investorplace.com/2024/04/tough-times-for-ev-stocks-why-quantumscape-investors-should-steer-clear/">shipping prototypes</a> of its new Alpha-2 battery cells to automotive manufacturers in hopes of generating sales. But the effort hasn&rsquo;t successfully moved the stock.</p>



<p>QuantumScape doesn&rsquo;t make money yet. It posted a <a href="https://s29.q4cdn.com/884415011/files/doc_financials/2024/q1/QS-Shareholder-Letter-Q1-2024.pdf">first-quarter loss</a> of $120.6 million, while analysts were expecting a loss of only $96.3 million. </p>



<p>It forecast for capital expenditure this year between $70 million and $120 million, and has just over $1 billion in cash and cash equivalents, giving it enough money to operate into late 2026.</p>



<p>One day, maybe, QuantumScape will be an attractive investment. But I&rsquo;m not willing to put money into a company that still doesn&rsquo;t have a product to sell and it in an industry that is staggering right now.</p>



<p>QS stock is down 21% in 2024 and gets a &ldquo;D&rdquo; rating in the Portfolio Grader.</p>



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/muln1600-1-300x169.png" alt="Mullen Automotive (MULN) brand logo. American automotive and electric vehicle manufacturer"><div>Source: Robert Way / Shutterstock.com</div></div><p>I don&rsquo;t know if <strong>Mullen Automotive</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/"><strong>MULN</strong></a>) is the worst EV stock you can buy. Fisker sets a pretty low bar. But it&rsquo;s definitely in the conversation.</p>



<p>This is a company that, in a desperate attempt to stay listed on a major index, executed three reverse stock splits last year just to keep the stock price above $1 per share. The third split was a 1-for-100 split in December.</p>



<p>Even with all that financial manipulation, Mullen stock is in penny stock territory. It&rsquo;s dropped 99.8% in the last year and more than 70% so far in 2024.</p>



<p>Now, there are some positive signs as of late. Investors rallied around Mullen when the company announced a <a href="https://investorplace.com/2024/04/muln-stock-mullen-pops-on-cost-cutting-plans/">cost-cutting plan</a> earlier this month that will reduce operating and investing cash flow by $170 million. </p>



<p>The company is also shifting gears to produce commercial EVs rather than aiming for the saturated consumer segment.</p>



<p>It also completed the first phase of its <a href="https://investorplace.com/2024/04/muln-stock-alert-mullen-hits-new-battery-pack-milestone/">battery line integration</a> at its California plant, with an eye on the commercialization of EV battery packs.</p>



<p>While this is a needed turnaround for Mullen stock, I&rsquo;m not willing to give it the benefit of the doubt &hellip; yet. MULN gets an &ldquo;F&rdquo; rating in the Portfolio Grader.</p>



<h2>Polestar Automotive (PSNY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/ggpi_polestar_1600-300x169.png" alt="PSNY stock: Polestar EV store. Electric car and Chinese customer in store. Polestar is a Swedish automotive brand owned by Volvo Cars and Geely (GGPI)"><div>Source: Robert Way / Shutterstock.com</div></div><p><strong>Polestar Automotive</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/psny-stock-quote/"><strong>PSNY</strong></a>) is a Swedish EV company. Polestar sells autos in 27 different markets spanning North America, Asia and Europe.</p>



<p>Scale remains an issue, however. Polestar only delivered <a href="https://investors.polestar.com/news-releases/news-release-details/polestar-announces-global-volumes-first-quarter-growing-line">7,200 vehicles</a> in the first quarter of 2024, <a href="https://investors.polestar.com/news-releases/news-release-details/polestar-reports-global-volumes-first-quarter-2023">down from 12,000</a> in the first quarter of 2023. </p>



<p>It doesn&rsquo;t help that rental car company <strong>Hertz </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/htz-stock-quote/"><strong>HTZ</strong></a>) announced it was pausing its agreement to buy <a href="https://investorplace.com/2024/02/psny-stock-alert-is-hertz-giving-up-on-polestar/">65,000 EVs from Polestar</a> over the next five years.</p>



<p>The problem for Hertz is that the resale market for EVs has fallen, making the purchase of an expensive electric vehicle less appealing.</p>



<p>Polestar calls 2024 a transition year and says it has its sights set on better performance in 2025. But that doesn&rsquo;t mean investors should stick around through the losses.</p>



<p>PSNY stock is down 45% in 2024 and gets a &ldquo;D&rdquo; rating in the Portfolio Grader.</p>



<h2>ChargePoint Holdings (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/chpt1600-300x169.png" alt="Selective focus. Detail of ChargePoint commercial EV electric vehicle charging station on uncovered parking lot. CHPT stock"><div>Source: Michael Vi / Shutterstock.com</div></div><p><strong>ChargePoint Holdings</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/"><strong>CHPT</strong></a>) manufacturers, owns and operates a network of charging stations that are designed to power EVs. </p>



<p>It looked like a solid investment choice a few years ago for anyone who was looking to invest in the infrastructure of EVs rather than buying the stock of a vehicle manufacturer.</p>



<p>But it&rsquo;s proven harder for ChargePoint to become the obvious solution for EV charging. Tesla owns more than 40,000 charging stations of its own. It&rsquo;s getting billions of dollars in annual profits from <a href="https://www.cnbc.com/2024/02/29/tesla-to-earn-billions-from-charging-partnerships-with-ford-others.html">partnering with other automotive manufacturers</a>.</p>



<p>That contributes to leaving ChargePoint out in the cold. Fourth-quarter revenue was $115.8 million, down from $152.8 million a year ago. Revenue from charging systems was $74 million, down from $122.3 million a year ago.</p>



<p>CHPT stock is down 45% in 2024 and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.</p>



<p><em>On the date of publication, neither Louis&nbsp;Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.</em></p>
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<p>For multiple reasons, the outlook of luxury electric vehicle maker<strong> Lucid Motors </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a></span>) has greatly improved in recent months. First, there&rsquo;s a great deal to like about its upcoming Gravity SUV, including its fairly unique seven seats and overall appearance. Meanwhile, Lucid should benefit from<strong> Tesla&rsquo;s</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) multiple problems, while the valuation of Lucid stock has become much less demanding after the shares tumbled over the last year. Finally, I believe that the media is becoming more excited about the automaker and its EVs, boding well for its financial results over the longer term.</p>



<p>However, the valuation of the shares remains high, and the automaker still has to successfully produce, launch and market the Gravity in order to show that it can ultimately survive and thrive. </p>



<p>Given these points, I continue to recommend that investors sell LCID shares until the automaker&rsquo;s outlook becomes more certain.</p>



<h2>The Promising Gravity SUV</h2>



<p>Unlike many SUVs, some of the Gravity EVs that Lucid will make <a href="https://www.caranddriver.com/reviews/a46694299/2025-lucid-gravity-protoype-drive/">will include three </a>rows, enabling it to comfortably transport seven adults. Meanwhile, <em>Car and Driver</em>, which drove a prototype of the SUV, praised its roominess, its relatively smooth ride, and its design. </p>



<p>The EV, due to go on sale by the end of this year, also boasts an 8 cubic foot &ldquo;frunk&rdquo; &mdash; cargo space in the front &mdash; <a href="https://electrek.co/2024/01/25/up-close-look-gravity-suv-lucid-motors-svp-design-brand-derek-jenkins/">along with</a> a sizeable trunk. Also importantly, the Gravity <a href="https://lucidmotors.com/gravity">is expected to have</a> a high range of 440 miles, along with more than 800 horsepower. Lucid says it will be able to accelerate from 0 to 60 miles per hour in less than 3.5 seconds. The outside of the EV appears to be attractive and well-designed, while its interior is also easy on the eyes.</p>



<p>Finally, the Gravity&rsquo;s <a href="https://www.kbb.com/lucid/gravity/">starting price is expected</a> to be below $80,00, putting it on par with Tesla&rsquo;s Model X and <strong>Rivian&rsquo;s</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/rivn-stock-quote/"><strong>RIVN</strong></a></span>) R1S and making it roughly $20,000 cheaper than Mercedes&rsquo; EQ SUV.</p>



<p>As a result, the EV is competitive on price, unlike its current offering, the Lucid Air sedan, which starts at $70,000, making it much more expensive than Tesla&rsquo;s Model 3 and <strong>Volkswagen&rsquo;s</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/"><strong>VWAGY</strong></a></span>) <a href="https://www.caranddriver.com/volkswagen/id4">ID.4</a>.</p>



<p>Given the high popularity of SUVs in America, the Gravity&rsquo;s exceptional roominess and its price competitiveness, I believe that it will be much more popular than the Lucid Air.</p>



<h2>Tesla&rsquo;s Issues and Lucid&rsquo;s Lower Valuation</h2>



<p>Tesla&rsquo;s recent problems, such as issues with the <a href="https://investorplace.com/2024/04/tsla-stock-hits-another-pothole-with-cybertruck-recall/">Cybertruck&rsquo;s accelerator pedals</a>, have received a tremendous amount of coverage. Moreover, Tesla&rsquo;s declining sales and its price cuts have been covered quite closely.</p>



<p>In light of the large amount of negative coverage that Tesla is getting, along with CEO Elon Musk&rsquo;s controversial views, I expect the market share of all of its EVs to decline going forward. Those downturns should create opportunities for Lucid to attract more buyers. </p>



<p>On the valuation front, LCID stock <a href="https://www.marketwatch.com/investing/stock/lcid?mod=search_symbol">has retreated</a> 42% so far in 2024 and 65% over the last year, making its market capitalization much smaller than previously and causing its valuation to be less steep.</p>



<p>However, the shares are still changing hands at a rather high enterprise value to revenue ratio of 7.1 times.</p>



<h2>Increased Buzz and the Bottom Line on Lucid Stock</h2>



<p>Media outlets appear to be significantly more excited about Lucid&rsquo;s outlook now than they have been for the past few years. </p>



<p>In addition to generally being upbeat about the Gravity, for example, <em>Newsweek</em> <a href="https://www.newsweek.com/electric-car-makers-need-keep-momentum-while-they-wait-whats-next-1891834">recently identified</a> Lucid, along with Rivian, as the two EV startups that had managed to perform well enough in order to move on to working on new, promising EVs. What&rsquo;s more, the publication praised the 516-mile range of the Grand Touring version of the Lucid Air, an achievement that Lucid attained last year. </p>



<p>According to <em>Newsweek</em>, the vehicle now has the longest range of any EV in America. In previous years, mainstream media outlets generally did not publish such glowing reports on Lucid. And as I&rsquo;ve stated previously, the reviews of the Gravity have generally been quite favorable.</p>



<p>The Gravity looks promising, Lucid can exploit Tesla&rsquo;s problems, and the media appears to have become more enthused about the firm. </p>



<p>As a result of the latter points, I expect Lucid&rsquo;s financial results to meaningfully improve over the longer term. Still, given the company&rsquo;s need to execute very well on the Gravity and the still-elevated valuation of Lucid stock, I suggest that investors remain on the sidelines for now when it comes to Lucid.</p>



<p><em>On the date of publication, Larry Ramer held a long position in RIVN. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>. </em></p>
<div><p>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</p></div><h3>More From InvestorPlace</h3>
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