Lucid (NASDAQ:LCID) stock is a hot topic on Monday after the electric vehicle (EV) company cut prices for its Lucid Air sedan.
Investors will note that these price reductions are only temporary. They come as part of a limited-time reduction as it gets ready for the holiday season. It’s also worth noting that many rivals in the EV space have reduced prices to better compete against each other.
Let’s break down the price reductions that Lucid announced below!
LCID Stock: Lucid Air Price Reductions.
- Starting us off is the Air Touring, seeing its price cut from $95,000 to $87,500.
- Next is the Grand Touring model, getting a price cut from $125,600 to $115,600.
- Moving on to the Air Pure AWD, its price was reduced from $82,400 to $74,900.
Investors will note that the Air Pure RWD isn’t included in these recent price reductions. Instead, Lucid Air is choosing to keep this EV model at its current price of $77,400.
LCID stock is down 3.7% as of Monday morning. That comes as some 8 million shares of the company’s stock have changed hands. For the record, its daily average trading volume is well above that at roughly 29 million shares.
Investors who are looking for even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market happenings that traders need to know about on Monday! Among that is what’s going on with shares of Bumble (NASDAQ:BMBL) stock, Birkenstock (NYSE:BIRK) stock and AMC (NYSE:AMC) stock today. You can catch up on all of these topics by checking out the links below!
More Stock Market News for Monday
- Why Is Bumble (BMBL) Stock Down 7% Today?
- BIRK Stock Alert: Goldman Sachs Is Pounding the Table on Birkenstock
- AMC Stock: Wedbush Just Slashed Its Price Target for AMC Entertainment
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
