Lucid Group, Inc. (NASDAQ: LCID) shares are trading at $2.37, down 6.32% for the day, reflecting a decrease of $0.16 from the previous close. The stock has seen a daily low of $2.36 and a high of $2.565, with a 52-week range between $1.93 and $4.43.
The company’s current market capitalization stands at approximately $7.23 billion, with a trading volume of nearly 68 million shares, which is in line with its average daily volume.
This decline comes as Mariner LLC significantly reduced its stake in Lucid Group, selling 129,582 shares and lowering its holdings by 56.8% in the fourth quarter. After this sale, Mariner LLC now owns 98,455 shares of the electric vehicle manufacturer.
The move by Mariner LLC has contributed to the downward pressure on the stock, which is already facing headwinds from broader market volatility and sector-specific challenges.
Lucid Group is scheduled to release its Q1 2025 earnings after the market closes on May 6. Investors will be closely watching for updates on production, deliveries, and guidance, as the company continues to navigate a competitive and capital-intensive electric vehicle landscape.
In summary, Lucid Group’s share price has declined sharply amid notable insider selling by Mariner LLC and ahead of its upcoming earnings report. The stock remains near the lower end of its 52-week range, reflecting ongoing investor caution in the EV sector.
IS LUCID GOOD TO BUY THIS TIME