Lucid Stock Skids as Wider Loss, Production Outlook, Capex Guidance Disappoint

Key TakeawaysLucid shares moved lower in premarket trading Tuesday after the EV maker disclosed a wider-than-expected quarterly loss, reiterated its soft 2024 production guidance and projected an annual increase in capital expenditures.Lucid's reiterated production guidance of 9,000 vehicles sits well below the 12,677 target projected by analysts.Monitor the $2.65 level, an area where the price may find buying interest near the 50-day moving average and a horizonal line connecting two recent troughs in Janu ...