Lucid Stock is Sinking After It Disclosed a Big Earnings Miss

Shares of Lucid Group (NASDAQ: LCID) were trading lower on Tuesday after the company pre-announced first-quarter revenue that missed Wall Street's expectations.As of 1 p.m. ET, Lucid's shares were down about 5% from Monday's closing price.Lucid filed a series of documents on April 14 explaining its latest capital raise, which will bring it just over $1 billion in new money. The raise has several parts, including investments from Uber Technologies (NYSE: UBER) and an affiliate of Saudi Arabia's Public Investment Fund (PIF), as well as a $300 million stock offering.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool