Lucid Group, Inc. is experiencing a positive market reaction today following the announcement of its fourth-quarter production and delivery numbers. The company reported producing 3,386 vehicles and delivering 3,099 vehicles during the quarter, surpassing analysts' expectations of 2,637 deliveries. This represents an 11% increase from the previous quarter and a 78% jump from a year earlier. The strong delivery figures, coupled with price cuts and attractive financing offers, have contributed to the stock's upward momentum. Additionally, Lucid's annual production of 9,029 vehicles slightly exceeded its target, while annual deliveries surged 71% to 10,241 vehicles, indicating robust demand and operational efficiency.
Despite being just 30 minutes into the trading day, Lucid's stock has already seen a significant volume of 31,095,862 shares traded, which is 39.68% of its average daily volume of 78,357,612 shares. The stock is currently priced at $3.37, up 2.50% from the previous close of $3.29.