Why Higher Spending Forecasts Are Sinking Lucid Motors (LCID) Stock

Lucid (NASDAQ:LCID) stock is taking a tumble after the electric vehicle (EV) company reported its first-quarter earnings. During the quarter, production tallied in at 1,728 vehicles while deliveries were 1,967 vehicles. That compares to the production and delivery of 2,391 and 1,734 vehicles during Q4 as well as 8,428 and 6,001 vehicles during 2023. Lucid has noted that it is still on track to produce 9,000 vehicles this year. However, analysts polled by Visible Alpha were expecting an average of 12,677 veh ...