Lucid Group (NASDAQ:LCID)
Like many other EV start-ups, investors in Lucid Group (NASDAQ:LCID) wish to see the company expand. Businesses are beginning to see vehicles roll off the assembly lines, which means that the rubber is starting to hit the road. Investors are eager to confirm that the businesses are executing their plans to ramp up the delivery of products to customers, and they are eager to see whether or not the companies are successful.
Investors may sigh relief since it seems Lucid stock is on pace with its manufacturing target. As of the closing of trading on Wednesday, Lucid stock price had increased by 3.5%.
Then what?
Lucid Group (NASDAQ:LCID) is not planning to release its profits for the third quarter of 2022 until November 8; Lucid stock management has given investors a preview of how the business did during the previous quarter by providing insight into its early production data. Its output during the third quarter was more than three times more than what it was for the second quarter, reaching 2,282 automobiles. In addition, there were 1,398 deliveries of vehicles made during the third quarter.
Consequently, management has restated its 2022 car production forecast as between 6,000 and 7,000.
What’s Next?
When it comes to more speculative stocks like Lucid stock, investors are constantly monitoring the company’s progress for signs that things remain on track. This is especially the case in light of recent setbacks suffered by peers, such as the massive recall Rivian announced just the previous week. As a direct consequence, investors see the preliminary results for Lucid Group (NASDAQ:LCID) third quarter as a resounding vote of confidence.
This report, however, scratches the surface of how well the firm did during the preceding quarter; as a result, prospective investors should remain tuned for the full results release that will be made on November 8.
Meta Description
Following the company’s announcement of an update about car production for the third quarter, investors are fueling their portfolios with Lucid stock.
Featured Image – Megapixl © andewarphotography
Author Shariq Khan 
