Lucid Stock Drops 8% After Mixed First Quarter Results, CEO Confirms Gravity SUV On Track for 2024 Debut
Fremont, California – Electric vehicle manufacturer Lucid Motors faced a setback in the first quarter, reporting a wider-than-expected loss despite surpassing revenue expectations. The company’s focus on its upcoming Gravity SUV’s 2024 debut provided some optimism among investors, even as its stock dipped over 8% in after-hours trading. In the first quarter, Lucid recorded revenue of $172.7 million, exceeding analysts’ projections of $150.1 million and marking a nearly 16% increase from the previous year. However, …