Why Lucid Stock Is Lower Wednesday

Lucid Group, Inc. LCID shares are trading lower on Wednesday after the company announced its production and delivery numbers for the second quarter.

The Details:

Lucid stated that the company produced 2,173 electric vehicles during the second quarter and delivered 1,404 vehicles during the same period.  The company also announced the commencement of material shipments to the Kingdom of Saudi Arabia.

Lucid will release its second quarter financial results and host a conference call on August 7 at 5:30 pm ET. 

According to data from Benzinga Pro, more than 44 million LCID shares have already been traded on Wednesday compared to the 100-day average of 34.9 million shares.

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LCID Price Action: According to data from Benzinga Pro, Lucid shares are trading lower by 8.64% at $7.42 at the time of publication.

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