Lucid launches EV sales event and stock slumps toward a 6-week low

The article revealed that Lucid's stock slump is part of a broad selloff in EV sector. I think only time will tell. Meanwhile I would like remind everyone about Lucid Q2 2023 delivery that I shared not long ago. You can read more in the link here:
Lucid Announces Production And Delivery Results In Q2 2023: Worrying?

Quote:

Shares of Lucid Group Inc. slumped Monday as part of a broad selloff in the electric-vehicle sector and after the California-based EV maker announced the launch of a sales event to attract buyers with "special pricing and lease offers."
The announcement comes ahead of Lucid's earnings report, which is due after Monday's closing bell. Separately, Lucid also acknowledged a recall of 59 Air EVs, citing a faulty rearview-camera image.
The stock (LCID) sank 6.4% in morning trading, putting it on track for the lowest close since June 27. The stock has tumbled 18.5% amid a five-day nonwinning streak, during which it closed unchanged on Aug. 3.

Source:

Lucid launches EV sales event and stock slumps toward a 6-week low | Morningstar

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ZnWC

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.

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