Lucid Group Inc. LCID, -11.76% said Wednesday that it delivered 1,404 vehicles during the second quarter, while producing 2,173 vehicles at its Arizona facility. FactSet lists only one estimate for Lucid’s second-quarter production, which was for about 2,400 units. Lucid shares were off more than 7% in Wednesday’s premarket trading. The company also disclosed in a release that it began material shipments to Saudi Arabia. Lucid will report second-quarter earnings Aug. 7 after the closing bell. Shares of Lucid have surged 31% over the past month as the S&P 500 SPX, +0.58% has advanced roughly 3%.
Tough saving our planet with sales of 1,404 in a quarter year. Thats 15 cars a day, worldwide. Note, the 30% surge is due to Saudi Sovereign Fund buying $4 Billion of stock.
Maybe if they produced a 50K car, and not a 130K, there fortunes would different.
#Demand #Affordability
GLTA
LYC Price at posting:
$7.04 Sentiment: Hold Disclosure: Held
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