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Why Lucid Stock Dropped 10% This Morning

·2 min read
Why Lucid Stock Dropped 10% This Morning
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Lucid Group (NASDAQ: LCID) shares opened low and proceeded lower in early trading on the Nasdaq Stock Market Friday morning. Wednesday evening, as you've probably heard by now, electric car kingpin Tesla reported terrific results for its fiscal fourth quarter of 2021 -- sales up 65% year over year, profits well ahead of estimates, and profit margins surging across the board. At the same time, however, Tesla also warned of "equipment capacity, operational efficiency and ... supply chain" difficulties that were impacting its business and "likely to continue through 2022."