Lucid Group Inc's shares LCID.O slumped over 14% in early trading on Thursday after the electric vehicle maker's 2023 production targets came in below estimates amid waning demand and a price war unleashed by market leader Tesla Inc .
In late January, Lucid's stock hit a six-month high on market speculation of a buyout by its largest backer, Saudi Arabia'sSince Lucid's total addressable market is investors' main concern, the stock will regain weakness after year-to-date short
covering, said analysts at Evercore ISI.fell about 6% on Thursday after it halted production and announced a recall of some vehicles due to quality issues.Reporting by Medha Singh, Akash Sriram and Yuvraj Malik in Bengaluru; Editing by Devika Syamnath
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