Lucid's CEO Steps Down. Is the Stock a Sell?
You can't blame a Lucid Group (NASDAQ: LCID) investor for sighing loudly during the fourth-quarter conference call. After years of mostly disappointing investors with production hiccups, earnings misses, delays, and other developments, Lucid finally had real positive momentum in 2024.So, of course, Lucid would cap off the year with a strong fourth-quarter result, only to abruptly announce that CEO Peter Rawlinson is stepping down. Let's take a look at the situation and whether it should change a Lucid investing thesis.Lucid announced recently that former CEO Peter Rawlinson would step down and that the company's chief operating officer, Marc Winterhoff, would take over as interim CEO. Rawlinson is still involved to some degree and will serve as a "strategic technical advisor to the chairman of the board," according to Lucid.Continue reading
You can't blame a Lucid Group (NASDAQ: LCID) investor for sighing loudly during the fourth-quarter conference call. After years of mostly disappointing investors with production hiccups, earnings misses, delays, and other developments, Lucid finally had real positive momentum in 2024.
So, of course, Lucid would cap off the year with a strong fourth-quarter result, only to abruptly announce that CEO Peter Rawlinson is stepping down. Let's take a look at the situation and whether it should change a Lucid investing thesis.
Lucid announced recently that former CEO Peter Rawlinson would step down and that the company's chief operating officer, Marc Winterhoff, would take over as interim CEO. Rawlinson is still involved to some degree and will serve as a "strategic technical advisor to the chairman of the board," according to Lucid.
