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Why Lucid Stock Crashed Today

TheMotleyFool

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Why Lucid Stock Crashed Today: https://g.foolcdn.com/editorial/images/712521/a-confused-person-looking-at-his-phone-with-computer-screens-displaying-stock-price-charts-in-the-background.jpg

Lucid Group (NASDAQ: LCID) stock dropped this morning and was trading down 5.4% as of 1 p.m. ET. Blame Elon Musk, at least partly, for the electric vehicle (EV) stock's fall today.

Lucid stock has dropped rapidly since November, and much of its fall has to do with the company's falling reservations.

In its third quarter, although Lucid produced a record number of vehicles, it reported reservations of only around 34,000 cars as of Nov. 7. That's an almost 8% drop from its last order backlog reported on Aug. 3.

Source Fool.com

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