Lucid Group Inc Stock News

Shares of Lucid Group (LCID -1.02%) are trading lower this week, down 17.1% as of 3:37 p.m. ET on Friday.

Late last year, Lucid Group Inc. (NASDAQ: LCID) began production of its highly anticipated Gravity luxury electric SUV.

Lucid Group (LCID -2.34%) was one of the most anticipated initial public offering (IPO) stocks in 2021. The electric-vehicle (EV) industry was red-hot, and Lucid, backed by Saudi Arabia's Public Investment Fund, planned to deliver 20,000 units of its flagship luxury Air sedan, worth nearly 2.2 billion in sales, in 2022.

Lucid Group (LCID -8.06%) dropped 8.24% to close at $2.56 on Tuesday, with the sharp decline attributed to renewed investor concerns over the electric vehicle (EV) maker's recently filed 1-for-10 reverse stock split proposal. The decline appears sentiment-driven, reflecting lingering skepticism over Lucid's capital structure and long-term path to profitability.

Shares of Lucid Group (LCID -7.35%) are falling on Tuesday, down 8.8% as of 2:08 p.m. ET. The drop comes as the S&P 500 (^GSPC -0.20%) and Nasdaq Composite (^IXIC -0.14%) were both down slightly.

Lucid (LCID -7.71%) stock is getting hit with a round of big sell-offs in Tuesday's trading. The electric vehicle (EV) company's share price was down 8.1% as of noon ET, and had been off as much as 8.6% earlier in the session.

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Lucid Group (LCID -2.34%) makes all-electric vehicles, including both a sedan and an SUV. That said, it is really just a start-up in what is a highly competitive and capital-intensive industry.