Lucid Group Reaffirms Production Outlook Despite Supplier Issues

Lucid Group (NASDAQ:LCID) shares closed down on Friday as the company faced challenges with its vehicle deliveries due to a supplier quality issue. “During the quarter, deliveries of the Lucid Gravity were disrupted for 29 days due to a supplier quality issue with the second-row seats,” the firm said in a press release.  This disruption impacted the production of the Lucid Gravity for 29 days, which has raised concerns about the company’s ability to meet customer demand. During the first quarter, Lucid produced 5,500 vehicles and delivered 3,093, but the supplier issue has led the company to reaffirm its production guidance of 25,000-27,000 vehicles. To enhance shareholder engagement, Lucid is partnering with Say Technologies for a Q&A session during its upcoming earnings call on May 5, 2026. The Consumer Discretionary sector, where Lucid operates, ranked 8 out of 11 sectors, closing unchanged, indicating that the stock’s decline may be more related to company-specific issues than broader market trends. Technical Analysis At $9.94, the stock is trading 4.1% below its 100-day simple moving average (SMA), suggesting a bearish trend in the intermediate term. Additionally, it is also trading 9.8% below its 200-day SMA, indicating continued weakness in the longer-term trend. The stock’s 12-month performance shows a decline ...Full story available on Benzinga.com