What's Going On With Lucid Stock Ahead Of Q2 Results?
Portfolio Pulse from Shanthi Rexaline
Lucid Group, Inc. (NYSE:LCID) shares rose in premarket trading on Monday following the company's announcement of price reductions for three trims of its Lucid Air EV. The price cuts, ranging from $10,500 to $12,400, come after a disappointing delivery update in mid-July. Lucid is set to report its Q2 results after trading closes on Monday, with an expected loss of $0.33 per share on revenue of $175.01 million, a 79.80% increase from a year ago.
August 07, 2023 | 11:28 am
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Lucid Group's shares rose following the announcement of price reductions for its Lucid Air EV. The company is expected to report a loss in its Q2 results.
The rise in Lucid's shares can be attributed to the price reductions for its Lucid Air EV, which may boost sales. However, the company is expected to report a loss in its Q2 results, which could potentially offset the positive impact of the price cuts.
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