Can LCID break through the low point?

$Lucid Group Inc(LCID)$Most of the record-setting 95 Bay Area companies that went public in 2021 did not perform well for retail investors. All but 15 of the companies were underwater as of the close of trading last Friday, according to a Business Journal analysis. In fact, if an investor bought one share of each stock of the region's Class of 2021 on Friday, they would have been down by more than 21%. And among the 10 companies that provided the biggest venture exists from last year, only three — Lucid Group Inc., Roblox Corp. and Affirm Holdings Inc. — closed trading before the long holiday weekend started with a higher price than they had at their Wall Street debuts. You can see all 10 in the photo gallery above.

Local companies aren't the only newly public ones that have struggled in the market. Companies that went public last year — wherever they're based — have performed poorly overall. That track record has started to weigh on the IPO market this year. Thus far, the schedule of upcoming offerings is fairly sparse. Another factor slowing the rush to Wall Street — the threat of interest rate hikes to curb inflation, which could pull money out of the stock markets and slow overall growth. The IPO market is searching for a bottom, said William Smith, CEO and co-founder of Connecticut-based Renaissance Capital. "It's challenging for issuers and investors to jump into the IPO market right now," he wrote in his weekly IPO roundup over the weekened. "As they say on Wall Street, 'don’t try to catch a falling knife.'"

This explains why LCID's stock market has performed poorly recently. They are not only trapped in their own scale, but now they are also impacted by the fluctuations of the market economy.With the fierce competition of new energy vehicles, LCID is not in a good position and has a long way to go.