Lucid Group misses Q3 estimates and increases loan from Saudi sovereign wealth fund
LCID Lucid Group Inc
$3.60 +9.42%
View chart & analysis → - 1Lucid Group fell below Wall Street's third-quarter expectations.
- 2The company announced an increase in a $1.75 billion revolving credit facility from the Saudi Arabian Public Investment Fund (PIF).
- 3Lucid Group's Q3 net loss of $830.9 million was less than the $978.4 million net loss in the same period last year.
So what's the key point?
Lucid Group reported lower earnings than experts expected. The company also agreed to borrow an additional $1.75 billion from the Saudi sovereign wealth fund.
Source CNBC · View original ↗
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