What's Going On With Lucid Stock Thursday?

Lucid Group, Inc. LCID shares have been volatile on Thursday. The company is set to report its second-quarter earnings on Aug. 7.

What To Know: The company is expected to report a loss of 35 cents and revenue of $201.94 million.

The downgrade of the US credit rating on Wednesday caused quite a stir in the broader market, creating a negative market sentiment. As a result, shares of EV stocks, including Lucid, traded lower amid a selloff in the growth sector. The concern is that such a downgrade may create conditions which make it difficult for companies like Lucid to grow.

Last week however, Lucid stock benefitted from the strength in the EV market, with the company also sharing a picture of its Sapphire model on the production line.

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LCID Price Action: Shares of LCID closed higher by 0.58% at $6.93 at the time of publication, according to Benzinga Pro.

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