Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower as the share lockup period expired for PIPE investors.
This is the first day some of Lucid's biggest stakeholders can sell their stock since the company's SPAC merger in July.
Over the past 30 trading sessions, Lucid's stock has dropped approximately 25%.
Lucid Group, a technology and automotive company, develops electric vehicle technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems.
Lucid Group's stock was trading about 10.3% lower at $17.90 on Tuesday at the time of publication. The stock has a 52-week high of $64.86 and a 52-week low of $9.60.