Lucid Motors (LCID) Stock Drops as Lockup on Share Sales Expires

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The LCID stock price fluctuated between $16.12 and $18.44 throughout the trading session with the volume trading being 149M shares, which represented a positive variation when compared to the three months average volume of 11M shares.

The share price of Lucid Group, Inc. (NasdaqGS:LCID) dipped -10.87% to close Wednesday’s market session at $17.79, lower as compared to yesterday’s close which brings the market valuation of the company to $28.8B.

The 52-week high for the Lucid Group, Inc.’s shares is $64.86. That puts it -72.57% from that peak but still a 101.82% gain since the share price dropped to a 52-week low of $9.60, while the S&P 500’s share price change was of 26.30%.

What does the trading volume tell us about the LCID stock?

During the last trading session, Lucid Group, Inc. (NasdaqGS:LCID) has seen decay in its daily volume. The daily volume was of 11M, while in the last 10 days the average was 10.91M and last three months – 11.38M.

The decreasing interest in the LCID stock from the investors is helping to drive the stock price down.

Growing short interest

The Lucid Group, Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 45.49M shares being shorted which translates into 4.28 of a short ratio for LCID, while in the previous month the shorted shares were not disclosed.

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Lucid Group, Inc.’s (NasdaqGS:LCID) financials

With a market cap of 28.8B, Lucid Group, Inc. holds a total cash of $558.44M that translates into $40.12 per share, while the total debt is of $179M.

The current revenue is of $4.46M that is $0.38 per share. This is a not so good sign for the future.