November 21, 2024 9:30 pm
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Lucid’s stock dives as sales slump

By Cromwell Schubarth | Phoenix Business Journal

Shares of Lucid Group Inc. dropped more than 10% in early trading on Tuesday after the luxury electric car maker reported a widened loss in a quarter and lowered its production forecast for the year.

“We are on track to produce over 10,000 vehicles in 2023, with company-wide initiatives ongoing that will enable Lucid to pivot to higher volumes as market conditions allow,” CEO Peter Rawlinson said Monday in the announcement of the Newark, California-based company’s first quarter 2023 results.

Read the full subscription story from the Phoenix Business Journal.

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