Why Lucid Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower after the company reduced the prices of its Air Pure sedan. The new starting price is $82,400, a $12,400 reduction from the previous pricing. The company is also set to report second-quarter earnings after the market close Monday, with an expected loss of 35 cents per share and revenue of $201.94 million.
August 07, 2023 | 7:57 pm
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Lucid Group's stock price is trading lower due to the reduction in the price of its Air Pure sedan. The company is also expected to report a loss in its Q2 earnings.
The reduction in the price of Lucid's Air Pure sedan indicates a potential issue with demand, which could negatively impact the company's revenues and profitability. Additionally, the expected loss in the upcoming Q2 earnings report could further drive the stock price down.
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