Lucid shares fall after Q1 revenue, adjusted EPS miss estimates amid Gravity delivery halt

Lucid Group (LCID) shares fell to $6.04 from $6.25 after the EV maker’s first-quarter revenue and adjusted earnings per share missed Wall Street expectations, pressured by a temporary stop sale of its Gravity model that delayed deliveries and left finished vehicles in inventory. Interim CEO Marc Winterhoff said the disruption was resolved and that deliveries and orders rebounded toward the end of the quarter. Lucid also began a broad cost-cutting program and raised more than $1 billion in new capital to strengthen its balance sheet. Investors are watching whether deliveries normalize, inventories decline and development of Lucid’s Midsize platform advances with lower costs. Other focus areas include the company’s Uber robotaxi partnership, European channel expansion and any strategic updates from new leadership.