Today's Morning Movers and Top Ratings: NVDA, LCID, BA, MCHP and More
Morning Movers
Gapping up
$NVIDIA(NVDA.US$ shares experienced a 1.1% increase, building on the chipmaker's impressive 9% surge on Thursday following its outstanding first-quarter earnings. This comes amid a Reuters report stating Nvidia has resorted to heavily discounting its artificial intelligence chips in China due to intense competition from domestic firms.
$NVIDIA(NVDA.US$ shares experienced a 1.1% increase, building on the chipmaker's impressive 9% surge on Thursday following its outstanding first-quarter earnings. This comes amid a Reuters report stating Nvidia has resorted to heavily discounting its artificial intelligence chips in China due to intense competition from domestic firms.
$Tesla(TSLA.US$ shares saw a modest climb of 0.3%, regardless of industry reports indicating the EV maker has reduced the production of its top-selling Model Y by a significant percentage at its Shanghai factory since March.
$Boeing(BA.US$ 's stock witnessed a 0.6% uptick, recovering from a 7% drop on Thursday after the company announced it halted recent aircraft deliveries to China, complying with the Chinese aviation regulator's request for additional certification documents, a situation expected to impact its second-quarter cash flow.
$Deckers Outdoor(DECK.US$ enjoyed an 8.8% increase in its stock value following the athletic shoe retailer's announcement of strong quarterly sales, driven by high demand for its HOKA and UGG brands.
$Lucid Group(LCID.US$ 's shares advanced by 1.5% after the EV manufacturer announced a 6% workforce reduction, translating to approximately 400 employees, as the industry faces decelerated growth.
Gapping down
$Intuit(INTU.US$ 's stock took a 5.7% hit as investors expressed concerns over the loss of free users from its crucial TurboTax tax-preparation service.
$Workday(WDAY.US$ 's shares plummeted by 11% after the human resources software provider lowered its annual subscription revenue outlook.
Source: CNBC; Investing.com
US Top Rating Updates on 05/24
Source: Dow Jones
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Rigid Bull : if it can't ramp up production then Lucid will probably go bankrupt unless it gets more bailouts from the Saudis?
TESSlE : High dividend
70636575 Rigid Bull: How they bankrupt when they have 5 billion liquid cash in hand.
RDK79 Rigid Bull: It’s more about selling than production… imho
Rigid Bull : Lucid lose money per sale due to extremely low volume. if they do not ramp up they will never reach economies of scale and will continue to make losses.
Lucid Motors reported a net loss of $630.9 million in Q3, translating to over $227,000 lost per vehicle sold, excluding overhead costs. Despite a peak valuation of $91 billion and selling only 125 vehicles by
5 Billion won't last long if it loses over 200k.per Vehichle sold.....
Rigid Bull 70636575: Lucid loses over 200k every time it's sells a car. How long will 5 Billion last when every car sold loses then 200k?
Rigid Bull RDK79: They need to increase the amount of cars they make to benefit from reduced costs. staying at low volume means it costs significantly more to produce each Vehichle. Look at Tesla cost reductions over time in comparison and you will see the more cars produced equates to cheaper manufactoring prices.
factories have fixed prices and you get bigger discounts when you buy more.
it's about ramping up production and reducing the prices to allow more consumers to gain access to their products.
RDK79 : Agree fundamentally but you can’t have them sit and pile up in parking lots …. they have to be sold, which Tesla does just fine.
Rigid Bull RDK79: The car industry is very cyclical and when interest rates are high it puts pressure on consumers. Tesla can sell at market clearing price because it makes profit on each Vehichle sold.
but Lucid is not in that position and the fewer cars it makes the more the company loses.
reality is if Lucid do not ramp up production and push to become cash flow positive it's 5b cash pile will soon dry up. Then it will be raising capital diluting shares.
investors need to have some understanding of capital expenditure and should have some insight when Lucid will become cash flow positive.
I wouldn't invest in this company, why did people invest in Lucid?
RDK79 Rigid Bull: Good question. Appreciate the feedback!!!