Lucid Shares Hit Record Low Below $5 as 14th Top Executive Exits Since 2023
Updated
Updated · Sherwood News · Jun 10
Lucid Shares Hit Record Low Below $5 as 14th Top Executive Exits Since 2023
2 articles · Updated · Sherwood News · Jun 10
Summary
$5 a share is in sight for Lucid, whose stock hit a fresh all-time low Wednesday and was on track for its first close below that level.
Emad Dlala's voluntary departure as senior vice president of engineering and software appeared to drive the latest selloff, marking the 14th top executive exit since late 2023.
The drop deepens a brutal slide for the luxury EV maker, whose shares are down about 54% this year and more than 99% from their early-2021 peak.
Lucid is already under pressure after naming former elevator-industry CEO Silvio Napoli in April and reporting a deeper-than-expected first-quarter loss last month.