Lucid Group (LCID) experienced a slight decline today, closing at $3.07, down 0.32% from the previous close of $3.08. The stock opened at $3.13 and reached a high of $3.23 before dipping to a low of $3.06. Trading volume was 66,462,319 shares, about 79.15% of the average.
The day's movement was influenced by mixed investor sentiment following the announcement of Canadian pricing for the Lucid Gravity SUV. The Gravity Touring and Grand Touring models, priced at $113,500 CDN and $134,500 CDN respectively, generated excitement, but also skepticism about the company's long-term prospects. Reddit discussions reflected this divide, with some users expressing enthusiasm for the deliveries, while others emphasized the importance of sales and revenue over mere deliveries.
Additionally, Lucid's recent entry into the electric SUV market with the Gravity model has been met with volatility. The company began deliveries over the weekend, positioning the Gravity as a competitor to Tesla's Model X. Despite the excitement, Lucid continues to face financial challenges, with a third-quarter loss of 28 cents per share, keeping investors cautious.
The stock's performance today reflects broader uncertainty about Lucid's ability to scale production and achieve profitability in the competitive EV market.