Lucid Group Inc LCID shares are trading lower by 3.38% to $7.00 Thursday morning. The stock is falling in symapthy with peer EV maker Tesla Inc after the company reported second-quarter earnings results.
What Happened?
Tesla's second-quarter revenue rose 47% YoY to $24.93 billion, surpassing the consensus estimate of $24.48 billion. Quarterly earnings stood at 91 cents per share, exceeding the expected 82 cents per share.
Operating margins for second-quarter were 9.6%, and gross margins were 18.2%, down from 25% YoY. The market closely monitored the margin results due to recent price cuts...Read More
According to data from Benzinga Pro, LCID has a 52-week high of $21.78 and a 52-week low of $5.46.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
