$Lucid Group Inc(LCID)$
How can an unprofitable company become more and more profitable?
The problem with having a $15 billion market cap when you are producing 10,000 cars a year is that the market has priced in a very rosy future outlook.
Right now there are only about two dozen car manufacturers in the world with a market cap of $15 billion.
Think about it, Lucid is one of the 25 most valuable car companies in the world, but they only produce 10,000 cars a year and are not expected to meaningfully increase production in 2023.
Now tell me that future long-term success isn't reflected in the current share price.
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