Lucid misses Wall Street expectations as problems continue with SUV launch
1. Lucid Group missed Q3 expectations, citing ongoing Gravity SUV launch issues. 2. Lucid reported a net loss of $978.4 million, worse than last year. 3. Quarterly revenue increased 68% but still fell short of Wall Street estimates. 4. Lucid secured a $2 billion credit facility from Saudi Arabian PIF. 5. Rivian's stock is rising while Lucid has dropped over 40% this year.