Lucid rises after reporting 38% jump in quarterly deliveries

Shares of electric-vehicle maker Lucid LCID.O rise 7.3% to $2.2

Delivered 3,309 vehicles in the second quarter, a rise of 38% from the same quarter last year but below estimates of 3,611 vehicles, according to analysts polled by Visible Alpha

Demand for LCID's luxury EV cars have remained resilient amid a challenging macroeconomic environment stemming from U.S. trade tariffs

Telsa TSLA.O on Wednesday reported a 13.5% drop in Q2 deliveries while Rivian's RIVN.O deliveries fell 22.7%

LCID produced 3,863 vehicles in the quarter compared with 2,110 vehicles it made a year ago

Up to last close, stock had fallen 32% YTD