Why Electric Vehicle Maker Lucid Group Stock Is Slipping Today
Portfolio Pulse from Nabaparna Bhattacharya
Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower after the company announced its Q3 2023 production and delivery totals. Lucid produced 1,550 vehicles and delivered 1,457 vehicles during Q3, lower than the 2,173 vehicles produced and 1,404 vehicles delivered in Q2. The company also recently opened a new EV manufacturing facility in Saudi Arabia.
October 17, 2023 | 2:29 pm
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Lucid Group's lower Q3 production and delivery totals compared to Q2 may have contributed to the drop in its share price. The opening of a new manufacturing facility could potentially boost future production.
The decrease in production and delivery totals for Q3 compared to Q2 indicates a slowdown in Lucid's operations, which could negatively impact investor sentiment and lead to a drop in share price. However, the opening of a new manufacturing facility could potentially increase production capacity and improve future performance.
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