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Why Lucid Group Stock Surged on Tuesday

TheMotleyFool

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Why Lucid Group Stock Surged on Tuesday: https://g.foolcdn.com/editorial/images/743330/lucid-air-grand-touring-sedans.jpg

Lucid Group (NASDAQ: LCID) stock surged on Tuesday and was trading 8% higher as of 1:45 p.m. ET. The luxury electric car maker's latest quarterly numbers are in, and although its revenue growth missed analysts' estimates, Lucid has given investors a lot to chew on.

Here are some key numbers from Lucid's second-quarter earnings release:

It's pretty much the same story: Lucid's deliveries are painfully low, and its losses are mounting. The only saving grace last quarter was its cash balance and liquidity. Rapid cash burn and a liquidity crunch have been among Lucid's biggest concerns.

Source Fool.com

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