Lucid Group Inc is trading 4% down today at $5.14 after unveiling a sweeping restructuring plan designed to lower operating expenses and better align production with current EV demand.
- The plan includes cutting approximately 18% of the company's U.S. workforce and eliminating the role of Chief Operating Officer.
- Investors are focused on what the significant cuts signal regarding growth and demand pressures, pushing the stock lower despite a mixed broader market.