StockStory Warns on Lucid, Applied Digital, Bunge Global Amid Negative Free Cash Flow

On June 1, 2026, investment research firm StockStory flagged Lucid Group (LCID), Applied Digital (APLD), and Bunge Global (BG) as companies with severe free cash flow deficiencies, cautioning investors against holding these positions. The firm cited their inability to convert high spending into durable competitive advantages. Lucid, the luxury EV maker, recorded a trailing 12-month free cash flow margin of -332%. Its shares traded at $6.53, a valuation of 0.9 times forward price-to-sales. Applied Digital, now focused on AI data centers after shifting from crypto mining, burned cash at a -509% margin, with shares at $47.18 and a forward EV-to-EBITDA multiple of 62.9 times. Bunge Global, a legacy agribusiness, showed a -1.4% free cash flow margin, trading at $123.41 per share and 12.2 times forward earnings. StockStory emphasized that these negative margins signal ongoing vulnerability despite varying business models.