What's Going On With Lucid Stock?

Lucid Group Inc LCID shares are trading lower by 3.89% to $6.91 Wednesday afternoon amid overall market weakness. Major indexes are lower as traders continue to assess recent earnings and Moody's recent downgrade of several U.S. banks.

Lucid Group shares are also pulling back after the company on Monday reported second-quarter financial results and said it is on track to achieve its 2023 production target. Additionally, the company announced the final production specifications for the Lucid Air Sapphire.

What Happened With Earnings?

Lucid's financial results for the second quarter reveal a reported revenue of $150.9 million, falling short of the estimated $201.9 million. The company also incurred a loss of 40 cents per share, which exceeded the anticipated loss of 35 cents for the same quarter.

In terms of operational performance, Lucid managed to deliver a total of 1,404 vehicles during the second quarter...Read More

According to data from Benzinga Pro, Lucid Group has a 52-week high of $19.16 and a 52-week low of $5.46.