Lucid Group Inc. slumped after lowering its production target for this year to between 12,000 and 14,000 cars, down from a previous goal of 20,000, citing “extraordinary” challenges with logistics and its supply chain.
Lucid tumbled 13% to $25.35 before the start of regular trading Tuesday in New York. The stock had dropped 24% this year through Monday. Rawlinson said in the statement that he expects the supply-chain issues to ease in the second half of this year and expressed confidence that Lucid is poised to capitalize on demand for its vehicles.
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Stocks end another bumpy day lower and crude oil prices easeStocks fell and oil prices eased back Thursday after another bumpy day of trading on Wall Street as markets remained anxious about the broader impact of Russia's invasion of Ukraine .
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