TSLA - Lucid Stock Is Tumbling Monday: What's Going On? | Benzinga
Lucid Group Inc (NASDAQ:LCID) shares are trading lower Monday. Cantor Fitzgerald reiterated an Underweight rating on the stock ahead of earnings next month.
What Happened: Cantor Fitzgerald analyst Andres Sheppard reiterated Lucid with an Underweight rating on Monday and maintained a price target of $4.
Lucid is the only EV company that Sheppard has an Underweight rating on. He’s Overweight all of the other EV makers he covers and highlighted recent preliminary EV data for the second quarter showing that EVs accounted for approximately 8% of total vehicle sales in the U.S.
Roughly 330,460 EV units were sold in the second quarter, representing growth of about 11% on a year-over-year basis, the analyst said. Sheppard noted that Tesla Inc’s (NASDAQ:TSLA) EV market ...