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Why Lucid Motors Stock Dropped Today

TheMotleyFool

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Why Lucid Motors Stock Dropped TodayPhoto, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D

Lucid Group (NASDAQ: LCID) is about to start taking orders for its second electric vehicle (EV) model and it might not be a stretch to say the company's entire future is at stake. Customer orders for the Lucid Gravity SUV open next week on Nov. 7.

After hearing what Lucid CEO Peter Rawlinson just said in an interview with CNBC, though, investors may think the new EV won't live up to expectations. That's helped lead to a nearly 5% drop in Lucid shares today. As of 2:35 p.m. ET, Lucid stock was still lower by 2.5%.

Source Fool.com