3 Reasons Lucid Stock Is Sliding Despite Record Q1 Deliveries
It might seem like investors in Lucid Group (NASDAQ: LCID) can't catch a break these days. After years of disappointing results, slow delivery growth, and production hiccups and delays, the young electric vehicle (EV) maker finally seemed to have momentum and growth on its side.But despite announcing the best quarter of deliveries in its history, the stock was sliding this past week. What gives?During the first quarter, Lucid delivered 3,109 vehicles, the highest quarterly total in the young company's history and right in line with Wall Street estimates. It produced 2,212 vehicles and had 600 additional vehicles in transit to Saudi Arabia for final assembly.Continue reading
It might seem like investors in Lucid Group (NASDAQ: LCID) can't catch a break these days. After years of disappointing results, slow delivery growth, and production hiccups and delays, the young electric vehicle (EV) maker finally seemed to have momentum and growth on its side.
But despite announcing the best quarter of deliveries in its history, the stock was sliding this past week. What gives?
During the first quarter, Lucid delivered 3,109 vehicles, the highest quarterly total in the young company's history and right in line with Wall Street estimates. It produced 2,212 vehicles and had 600 additional vehicles in transit to Saudi Arabia for final assembly.
