Lucid Group (LCID) concluded the recent trading session at $3.28, signifying a +0.31% move from its prior day's close.
Shares of Lucid Group Inc. fall more than 10% in the extended session Wednesday after the EV maker called for larger-than-expected operational losses and quarterly revenue that would be slightly ahead of forecast.
Electric vehicle maker Lucid Group expects a wider-than-expected third-quarter loss amid high costs and sluggish demand, sending its shares down 10% in aftermarket trading on Wednesday.
Shares of Lucid Group dropped during after-hours trading after the electric vehicle startup announced a public offering of nearly 262.5 million shares of its common stock. Lucid intends to use the proceeds "for general corporate purposes, which may include, among other things, capital expenditures and working capital.
24/7 Wall St. Insights Lucid Group Inc. (NASDAQ: LCID) stock has underperformed this year.
The EV company delivered solid growth amid a challenging backdrop.
As LCID hits record delivery numbers in the third quarter, let's assess its fundamentals to find out if this sub-$5 stock is good enough to invest in right now.
The electric vehicle (EV) market has faced challenges recently, including demand not meeting expectations and increased global trade barriers. Lucid Group (LCID, Financial) stocks experienced a 1.2% increase in their price, currently standing at $3.38.
On Monday, Lucid Group (NASDAQ: LCID) reported on its third quarter vehicle deliveries and production.
Lucid's third-quarter vehicle deliveries are up 90% year-over-year.
Lucid Motors has now officially sold more EVs this year than it did in all of last year, and with three months to go in 2024.
Lucid Group beat market expectations for third-quarter deliveries on Monday, as discounts and cheaper financing options for its luxury electric vehicles boosted demand in an uncertain economy.