Ideanomics Inc IDEX shares are trading lower by 12% to $0.07 Friday morning. Shares of several EV-related and clean energy vehicle stocks are trading lower amid weakness in the space after Lucid Group Inc announced first-quarter production and delivery totals.
Ideanomics is engaged in accelerating the commercial adoption of electric vehicles, and the stock has fallen some 55% on a year-to-date basis amid broader weakness in the EV space.
Our Benzinga team reported earlier Friday Lucid produced 2,314 vehicles in the quarter, down from 3,493 units in the fourth quarter.
Deliveries also fell from 1,932 units in the fourth quarter of 2022 to 1,406 units in the first quarter of 2023.
Lucid is meanwhile targeting full-year vehicle production of 10,000 to 14,000 units for the full year.
See Also: Major Bank Profits Surge More Than Expected In Q1, Drawing Customer Deposits From Smaller Players
According to data from Benzinga Pro, IDEX has a 52-week high of $0.89 and a 52-week low of $0.07.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
