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Why Lucid Group Stock Is Falling Today

TheMotleyFool

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Shares of the electric automaker Lucid Group (NASDAQ: LCID) were sliding this morning after the company reported its first-quarter results. Despite results beating Wall Street's average top- and bottom-line estimates, investors may have been disappointed with the company's vehicle deliveries in the quarter.

The electric vehicle (EV) stock was down by as much as 7.5% today and had fallen 3.1% as of 1:08 p.m. ET.

Lucid's loss per share of $0.05 in the quarter easily beat analysts' consensus estimate of a loss of $0.30 per share. Additionally, the EV company's revenue of $57.7 million -- up from only $330,000 in the year-ago quarter -- was better than Wall Street's average estimate of $55.6 million.

Source Fool.com

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