Why Lucid Stock Hit A New All-Time Low Today
Portfolio Pulse from Henry Khederian
Lucid Group Inc's (NASDAQ:LCID) shares have fallen by 17.5% to $4.26 over the past five sessions due to an overall downturn in the EV industry and rising Treasury yields. The company's Q3 2023 production and delivery figures also contributed to the decline. Lucid produced 1,550 vehicles and delivered 1,457 in the quarter.
October 20, 2023 | 7:54 pm
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NEGATIVE IMPACT
Lucid Group's stock has been negatively impacted by the overall downturn in the EV industry and rising Treasury yields. The company's Q3 2023 production and delivery figures also contributed to the decline.
The overall downturn in the EV industry, driven by Tesla's underwhelming Q3 financial performance, and rising Treasury yields have negatively impacted Lucid Group's stock. Additionally, the company's Q3 2023 production and delivery figures, which were lower than expected, have also contributed to the decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100