Why Shares of Lucid Group Sank 22% This Week

Lucid Group's stock plummeted 22% this week following a CEO transition and poor quarterly results. The luxury EV manufacturer delivered only 3,000 vehicles last quarter and faces severe liquidity challenges with negative $4.6 billion free cash flow over the past year. With just $700 million in cash remaining and ongoing losses, the company risks running out of money before year-end despite raising $1 billion from Uber and Saudi Arabia's PIF fund.