Why Lucid Group Stock Stalled in May
High-end electric vehicle (EV) maker Lucid Group's (NASDAQ: LCID) stock didn't notch any new highs in May. In fact, it ended up falling in the month, skidding to more than an 11% loss despite publishing a quarterly earnings report that cheered not a few investors. Yet Mr. Market was dismayed by other developments.At least Lucid kicked off the month on a high note. Less than a week into May it unveiled its first quarter figures, revealing that revenue accelerated to over $235 million for a year-over-year increase of 36%. In terms of operations, the company produced 2,212 vehicles during the period and delivered 3,109. The latter figure was a sturdy 58% higher than the comparable quarter of 2024.Image source: Getty Images.Continue reading
High-end electric vehicle (EV) maker Lucid Group's (NASDAQ: LCID) stock didn't notch any new highs in May. In fact, it ended up falling in the month, skidding to more than an 11% loss despite publishing a quarterly earnings report that cheered not a few investors. Yet Mr. Market was dismayed by other developments.
At least Lucid kicked off the month on a high note. Less than a week into May it unveiled its first quarter figures, revealing that revenue accelerated to over $235 million for a year-over-year increase of 36%. In terms of operations, the company produced 2,212 vehicles during the period and delivered 3,109. The latter figure was a sturdy 58% higher than the comparable quarter of 2024.
Image source: Getty Images.
