Lucid Group: Buy, Sell, or Hold?
Lucid Group (NASDAQ: LCID) is an up-and-coming electric vehicle (EV) manufacturer with significant backing from the Saudi Arabia Public Investment Fund. The company, which focuses on luxury EVs with extended driving ranges, has drawn investor interest since its merger with a special purpose acquisition company (SPAC) three years ago.The company aims to compete with industry giant Tesla with its premium offerings. However, it has struggled to ramp up production and meet the aggressive targets laid out a few years ago when it went public. The stock reached as high as $57 per share in 2021, but is now down 95%.Lucid has had to tap into equity markets several times and continues to bleed cash. However, the company is optimistic that its newer models can help improve margins and reach profitability. If you're considering owning Lucid Group stock, here are some things to consider first.Continue reading
Lucid Group (NASDAQ: LCID) is an up-and-coming electric vehicle (EV) manufacturer with significant backing from the Saudi Arabia Public Investment Fund. The company, which focuses on luxury EVs with extended driving ranges, has drawn investor interest since its merger with a special purpose acquisition company (SPAC) three years ago.
The company aims to compete with industry giant Tesla with its premium offerings. However, it has struggled to ramp up production and meet the aggressive targets laid out a few years ago when it went public. The stock reached as high as $57 per share in 2021, but is now down 95%.
Lucid has had to tap into equity markets several times and continues to bleed cash. However, the company is optimistic that its newer models can help improve margins and reach profitability. If you're considering owning Lucid Group stock, here are some things to consider first.
