|LCID down another 20% in pre-market. Anyone know what the market was expecting but didn't get?|
LCID Stock News: Lucid Group Inc extends decline as losing streak hits six days
NEWS | 9/1/2021 11:20:27 AM GMT | By Stocks Reporter
NASDAQ:LCID fell by a further 3.25% on Tuesday amidst a flat day for the markets.Lucid announces the Production Preview Week event, opening its doors to the media.Former EV SPAC stock Ree Automotive tumbled by 33.7% on Tuesday.NASDAQ:LCID has continued to disappoint shareholders who had high expectations for the stock once it completed its SPAC merger with CCIV. On Tuesday, shares of LCID fell a further 3.25% and closed the day at $19.96 as the stock broke below the $20.00 price barrier. The move lower was the sixth straight losing session for Lucid, and the stock has now fallen for 13 of the past 14 trading days. Lucid’s struggles came despite the EV sector posting positive days on Tuesday from the likes of Tesla (NASDAQ:TSLA) and Nio (NYSE:NIO) which popped by a surprising 4.05% during today’s session.
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Lucid made an announcement on its production on Tuesday, but it wasn’t quite the news that shareholders have been waiting for. On September 27th, the company will open the doors to its AMP-1 production facility in Arizona to industry members, media, and even a small group of its customers. Invitees will also be able to test drive Lucid’s vehicles personally, something that has not been available to the public until now.