Why Lucid Stock Is Falling

Lucid Group Inc LCID shares are trading lower by 4.29% to $7.70 Monday morning amid weakness in EV stocks after Tesla Inc and Rivian Automotive Inc reported delivery figures.

Tesla's Q1 Delivery Numbers

Tesla said it produced 440,808 vehicles in the first quarter, up from 439,701 last quarter. The EV maker delivered 422,875 vehicles in the quarter, up from 405,278 in the previous quarter. 

Tesla produced 421,371 Model 3 and Model Y vehicles and a little less than 20,000 Model S and Model X vehicles. The company delivered more than 412,000 Model 3 and Ys and delivered 10,695 Model S and X vehicles...Read More

The Tesla Chart

The downturn in shares caused Tesla to open the trading session with an inside bar pattern on the daily chart. An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend...Read More