Lucid Group, Inc. is experiencing a decline in its stock price today, potentially influenced by recent developments and market reactions. The company recently announced that its highly anticipated Lucid Gravity Grand Touring SUV will feature Panasonic Energy's advanced lithium-ion EV battery cells, promising an impressive range of up to 450 miles. Despite this positive news, the stock is facing downward pressure, possibly due to broader market dynamics or investor sentiment.
On Reddit, discussions about Lucid are mixed, with some users expressing skepticism about the company's future. One user noted, "I think people are betting against them because of the end of the EV tax credit. They are selling well right now but when the subsidies end in a few months those lease prices are going to be quite a bit higher." This sentiment reflects concerns about the potential impact of changing tax incentives on Lucid's sales and profitability.
Lucid Group's stock is currently trading at $2.96, down 6.76% from the previous close of $3.18. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 78,033,857 shares, representing 94.87% of the average daily volume of 82,249,554 shares.