Why Lucid Stock Crashed This Week, and What You Should Do
Shares of Lucid Group (NASDAQ: LCID) are crumbling. Just this week, the electric vehicle (EV) stock was down 15.5% as of 12:30 p.m. ET Friday, according to data provided by S&P Global Market Intelligence. That drop in the stock price now means Lucid shares have lost 41.5% already this year, as of this writing.
Blame Lucid's underwhelming outlook for this week's loss.
Lucid's fourth-quarter earnings report was one of the most awaited in the EV industry. The start-up that made Tesla sit up and take notice when it beat the EV leader's range rating was to report its first-ever revenue from EV sales since going public in mid-2021.
Source Fool.com