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Lucid stock drops 9% after EV startup dials down production guidance

Earnings Results Last Updated: May 8, 2023 at 8:07 p.m. ET First Published: May 8, 2023 at 4:24 p.m. ET Lucid to unveil Gravity SUV later in 2023 Lucid headquarters in Newark, Calif., in March. Getty Images Shares of Lucid Group Inc. fell about 9% in the aftermarket Monday after the electric-vehicle startup reported steeper
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lucid-stock-drops-9%-after-ev-startup-dials-down-production-guidance

Earnings Results

Lucid to unveil Gravity SUV later in 2023

Lucid headquarters in Newark, Calif., in March.

Getty Images

Shares of Lucid Group Inc. fell about 9% in the aftermarket Monday after the electric-vehicle startup reported steeper quarterly losses and tweaked its guidance for the year.

Lucid LCID lost $780 million, or 43 cents a share, in the first quarter, compared with a loss of $81.2 million, or 5 cents a share, in the year-ago quarter. Revenue rose to $149.4 million, from $58 million a year ago.

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