Shares of Lucid Group (NASDAQ: LCID) are trading higher today after announcing that it produced 7,180 electric vehicles in 2022, of which 4,369 were delivered. For reference, the company had expected to produce between 6,000 and 7,000 vehicles.
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Although this is good news, it’s worth noting that its original guidance was 20,000. However, it was ultimately reduced as a result of logistical and supply chain issues.
Overall, Wall Street analysts have a consensus price target of $14.74 on LCID stock, implying 78.23% upside potential, as indicated by the graphic above.
