Lucid stock down as Q3 vehicle production falls (Video)

well it's time for today's trending ticker let's take a look at shares of lucid heading downhill this morning after third quarter vehicle production fell 32% from a year ago and nearly 29% from the last quarter the EV maker delivered 1,457 of its air sedans in Q3 that's compared to, 144 in the previous quarter shares of lucid are down more than 25% so far this year you know um Michelle when you think about lucid story there are really two key concerns here the inventory that we just flagged right now yes they delivered more but at the end of the day that means they're still accumulating inventory that's not a good thing for a company like Lucid but also when you think about cost right now we're talking about cars that are upwards of $75,000 to $80,000 at a time where consumers are increasingly sort of tightening their wallets a bit and you have to wonder what the appetite is for a car like Lucid a luxury EV in this environment it's true I mean when you think of other companies of course namely Tesla is the one that always comes to mind when we think of EVS but when you think of their delivery targets and versus the cost that you see for a vehicle like a lucid I mean it's concerning and when they report earnings I believe it's November 7th these are going to be some of the questions that people have because the way that they actually have their supplying line they do a lot of the the Pieces come and they get assembled in Saudi Arabia so you have this this much longer supply chain here whereas we're seeing we're seeing uh Tesla being a lot more nimble about how it's shipping out its how it's shipping out its Vehicles so if it's still producing less than expected at this point as you're al already seeing some of these Legacy car makers pulling ahead and wrapping up production Lucid really being caught on the back foot here yeah I mean Tesla has larger scal so not sure if it's it's not necessarily an Apples to Apples comparison but you're certainly right I mean there's a lot of competition in the EV space Lucid has always argued they're competing on the higher end but as we see consumers sort of rethink think where they want to be spending their money uh with other car makers having those Federal incentives in place you have to wonder um you know how uphill that struggle is for Lucid moving forward