Why Lucid Motors Stock Sank Today

Luxury electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) launched its fully electric Gravity SUV to the public last year and began accepting registrations from interested customers. It officially introduced the initial 2026 Grand Touring edition yesterday.

A company executive also announced that plans to launch a new, midsize SUV next year are on track. Yet after a brief rise higher, Lucid stock is plunging today. Lucid shares closed the day's trading lower by 5%. 

Lucid stock is down about 25% year to date with today's drop. News from the company yesterday was positive, though. Lucid is diversifying its product lineup with its new luxury Gravity SUV. It began accepting registrations last year, but now has officially opened the order book on the high-end SUV that starts at $94,900.

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Source Fool.com