Rivian Automotive and Lucid Group are experiencing a significant drop in premarket trading today due to disappointing earnings reports. Rivian fell short of production targets, announcing a reduction in workforce and lower-than-expected unit guidance for 2024. Meanwhile, Lucid missed revenue expectations and struggled with delivery guidance. Rivian’s stock plummeted by 14.62% to $13.14, while Lucid dropped 8.38% to $3.39. This news has caused concern among investors and analysts, reflecting the challenges faced by these EV startups in the competitive market. Investors will be closely monitoring the developments of both companies in the future.
Rivian and Lucid Stocks Plummet After Missing Production Targets, US
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