Why Lucid Group Is Sinking This Week
Since the close of trading last week, shares of the electric vehicle maker Lucid Group (NASDAQ: LCID) traded roughly 10% lower, as of 9:57 a.m. ET today. The move comes after Lucid reported third-quarter deliveries earlier this week, and received a negative rating from Wall Street.
On Monday, Lucid reported third-quarter deliveries of 4,078 vehicles. That is a record for the company and up 48% year over year, but came up short of Wall Street estimates, which called for nearly 5,000 deliveries.
Image source: Lucid Group.
Source Fool.com
