Lucid stock drops 9% after EV startup dials down production guidance

Shares of Lucid Group Inc. fell about 9% in the aftermarket Monday after the electric-vehicle startup reported steeper quarterly losses and tweaked its guidance for the year.

Lucid LCID lost $780 million, or 43 cents a share, in the first quarter, compared with a loss of $81.2 million, or 5 cents a share, in the year-ago quarter. Revenue rose to $149.4 million, from $58 million a year ago.

Analysts…