What's Going On With Lucid Group Stock?
Portfolio Pulse from Erica Kollmann
Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower, down more than 11% over the last five days and 22% over the last month. This comes as Lucid's EV competitor Tesla, Inc. (NASDAQ:TSLA) continues to roll out large price reductions on its EVs. Lucid is also attracting the attention of short-sellers and retail investors, with 17.47% of available shares being sold short.
October 09, 2023 | 5:32 pm
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NEUTRAL IMPACT
Tesla's large price reductions on its EVs are putting competitive pressure on Lucid Group.
While Tesla's price cuts are putting pressure on competitors like Lucid, it's unclear how this will impact Tesla's own stock in the short term. It could potentially lead to increased sales, but also lower margins.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Lucid Group shares are trading lower, with a significant percentage of shares being sold short. This is happening amidst price cuts from competitor Tesla.
Lucid Group's stock is trading lower due to increased short-selling activity and competitive pressure from Tesla's price cuts. This could lead to further downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100