Why Lucid Stock Is Racing Higher Today

Lucid Group Inc LCID shares are trading higher Wednesday after the company reported preliminary third-quarter deliveries and reaffirmed its annual production guidance.

Lucid said it produced 2,282 vehicles during the third quarter, more than tripling its production totals from the second quarter. The electric vehicle company delivered 1,398 vehicles during the third quarter. 

Lucid said it believes it remains on track to deliver on its previously provided vehicle production guidance of 6,000 to 7,000 vehicles for full-year 2022.

Lucid is set to report third-quarter financial results after the market close on Nov. 8.

See Also: Why Moderna Stock Is Moving Higher Today

LCID Price Action: Lucid has a 52-week high of $47.59 and a 52-week low of $12.20.

The stock was up 5.69% at $13.37 at time of publication, according to Benzinga Pro.

Photo: courtesy of Lucid.