Lucid expects wider-than-estimated Q3 loss on sluggish EV demand

(Reuters) - Electric vehicle maker Lucid Group (NASDAQ:LCID ) expects a wider-than-expected third-quarter loss amid high costs and sluggish demand, sending its shares down 10% in aftermarket trading on Wednesday.



The company also announced a public offering of 262.4 million shares.

Lucid expects to report a loss from operations in the range of $765 million to $790 million for the quarter ended Sept. 30, compared with analysts' average estimate of $751.65 million loss, according to data compiled by LSEG.

Source: Investing.com