: Lucid stock drops after delivery and production update

Lucid Group Inc. LCID said Wednesday that it delivered 1,404 vehicles during the second quarter, while producing 2,173 vehicles at its Arizona facility. FactSet lists only one estimate for Lucid’s second-quarter production, which was for about 2,400 units. Lucid shares were off more than 7% in Wednesday’s premarket trading. The company also disclosed in a release that it began material shipments to Saudi Arabia. Lucid will report second-quarter earnings Aug. 7 after the closing bell. Shares of Lucid have surged 31% over the past month as the S&P 500 SPX has advanced roughly 3%.

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