Lucid Group, Inc. is facing a decline in its stock price today, potentially influenced by recent developments and market reactions. The company announced that its highly anticipated Lucid Gravity Grand Touring SUV will be powered by Panasonic Energy's advanced lithium-ion EV battery cells. This collaboration promises an impressive range of up to 450 miles, positioning the Gravity as a groundbreaking SUV in the luxury EV market. Despite this positive news, the stock is experiencing downward pressure, possibly due to broader market dynamics or investor sentiment.
On Reddit, discussions about Lucid are mixed, with some users expressing enthusiasm for the Gravity SUV's design and potential market impact. One user remarked, "Talk is cheap though. Everyone thinks the Gravity should be out first, but you have to realize, without the significant advancements made and learned from the Air, the Gravity won't exist or be what it is today without it." This sentiment reflects a cautious optimism among investors, acknowledging the challenges and strategic decisions involved in Lucid's product lineup.
Lucid Group's stock is currently trading at $3.04, down 4.53% from the previous close of $3.18. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 10,945,969 shares, representing 13.46% of the average daily volume of 81,313,840 shares.