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Anushka Dutta

Buy, Sell or Hold: Lucid Group, Inc. (LCID)

LCID Lucid Group, Inc.

Lucid Group, Inc. (LCID), which designs, engineers, and builds Electric Vehicles (EVs), EV powertrains, and battery systems, reported a wider-than-expected first-quarter loss of 43 cents per share.

LCID announced in March its immediate move to conserve cash through the reduction of 18% of its workforce, amounting to roughly 1,300 workers. Its stock closed the last trading session at $7.18, lower than its 50-day moving average of $7.62 and 200-day moving average of $10.83.

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