Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Lucid Is Dropping More Than 5% Today

TheMotleyFool

0 0

Why Lucid Is Dropping More Than 5% Today: https://g.foolcdn.com/editorial/images/704849/lucid-air-sapphire-laguna-seca-rear-side-dark.jpg

Luxury electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) provided investors with some positive news this week, but the stock is still closing out the week on a down note. Most of this week's approximately 7% drop in the stock is coming today. As of 1:26 p.m. ET, Lucid shares were down 5.8%.

On Wednesday, Lucid reported that it produced 2,282 of its Air sedans in the third quarter, more than tripling its production from the previous quarter. The stock jumped on that news, since it provided some confidence that Lucid seems to have found its production legs and should hit its latest 2022 production target. But economic news from subsequent days spooked investors in riskier assets, especially early-stage companies like Lucid.

Source Fool.com

Like: 0

LCID

Share