lucid group inc shares initially rallied more than 6 in the extended session monday after the luxury ev maker kept unchanged its 2023 production outlook despite weaker quarterly sales “we’re on track toward achieving our 2023 production target of more than 10000 vehicles but we recognize we still have work to do to grow our customer base” chief executive peter rawlinson said in a statement gains faded however not long after results were released with the stock at last check up 05 lucid lcid lost 764 million or 40 cents a share in the second quarter compared with a loss of 220 million or 33 cents a share in the yearago period analysts polled by factset expected lucid to post an adjusted loss of 34 cents a share on sales of 1816 million lucid in july reported production and delivery numbers that disappointed wall street and all eyes were on the yearly guidance lucid whose largest shareholder is saudi arabia’s sovereign wealth fund said it ended the quarter with about 625 billion in total liquidity “which is expected to fund the company into 2025” lucid raised 3 billion in capital in the quarter including 18 billion from the saudi fund the company said read also tesla’s stock drops as cfo steps down lucid earlier monday slashed prices on its evs by up to 115 the pricecut news came “as a surprise to us” because lucid didn’t seem to have much room to drop prices amid negative gross margins cantor fitzgerald analyst andres sheppard said lucid shares have dropped about 6 this year compared with gains of around 18 for the sp 500 index spx