Why Lucid Stock Is Plummeting Again Today
Lucid Group (NASDAQ: LCID) stock is losing ground again in Friday's trading. The electric vehicle (EV) company's share price was down 7.1% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence.
On the heels of the deliveries and production report that the company released yesterday, news hit today that Lucid would be recalling more than 2,000 vehicles. According to the announcement, the recall is due to possibly faulty high-voltage coolant heaters and includes both 2022 and 2023 Lucid Air model years.
Lucid stock sank to a new record low yesterday after the company published its vehicle delivery and production update for last year's fourth quarter. With today's news of a substantial recall for its Lucid Air luxury sedans, investors got an additional piece of bad news -- and the EV company's share price has set another new low in today's trading.
Source Fool.com
