Lucid Group (LCID) is an EV manufacturer based in California. I am bullish on the stock.
Lucid is not a run-of-the-mill EV maker. The Lucid Air EV model is sleek, powerful, and luxurious. Besides, the company has a disruptive vision for the automotive industry, and LCID stockholders have to be willing to accept some risk and volatility.
Prospective investors must also consider that Lucid has a global vision.
Moreover, Lucid’s recently issued financial press release offers up not only some eye-opening results, but a new pricing model for Lucid’s EV model lineup. Some folks might like the pricing model and others won’t, but in the long term, it could help to boost Lucid’s top and bottom lines.
With that in mind, let’s give LCID stock a test drive and see what’s under the hood.
Another Pivotal Moment
LCID stock hasn’t exactly been on a tear lately. The stock’s 52-week high of $57.75 was achieved late last year, but recently the Lucid share price fell below the $20 mark.
Of course, it’s not a coincidence that LCID stock started to drop at the same time that the entire U.S. stock market began to slide lower. Just as a rising tide lifts all boats, a sinking tide can bring every ship down.
Still, there’s no denying that Lucid’s stockholders could really use a positive catalyst now. Fortunately for them, there is a catalyst and it comes in the form of a regional expansion in a place you might not have expected.
According to a fresh press release from Lucid, the Ministry of Finance of the government of Saudi Arabia has made a big-time purchase commitment for the Lucid Air, and future Lucid vehicle models.
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