Lucid’s stock moved lower after the electric vehicle maker reported an earnings miss and disclosed an expanded loan tied to Saudi backers, according to Barron’s.
Key facts
- Lucid posted an earnings miss
- Lucid has expanded a loan linked to Saudi backers
- The company’s stock fell following the announcements
What the earnings miss means for Lucid
Barron’s reported that Lucid’s results fell short of expectations, and the news weighed on the company’s shares.
Details on the expanded Saudi loan
Alongside the earnings report, Lucid disclosed an expanded loan involving Saudi backers, a development business watchers in the Gulf are likely to track given Lucid’s existing Saudi ties.
