Lucid’s stock drops 8% as losses mount for the EV startup, lower 2024 guidance

Lucid Group Inc. shares fell 8.4% in the extended session Wednesday after the EV maker reported a mixed fourth quarter, with revenue below Wall Street estimates, and production guidance also disappointed. Lucid LCID, +0.54%lost $654 million, or 29 cents a share, in the fourth quarter, compared with a loss of $473 million, or 28 cents a share, in the year-ago period. The EV maker’s revenue fell to $157.2 million, from $258 million a year ago.Analysts polled by FactSet expected Lucid to repo