Where Will Lucid Stock Be in 1 Year?
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Lucid (NASDAQ: LCID), a fledgling producer of luxury electric vehicles (EVs), went public by merging with a special purpose acquisition company (SPAC) on July 26, 2021. The combined company's stock opened at $25.24 on the first day. It more than doubled to a record high of $55.52 four months later, but now trades at roughly $2 a share.Lucid initially attracted a lot of attention because it was led by Tesla's former chief vehicle engineer, Peter Rawlinson. But like many other SPAC-backed EV makers, it disappointed its investors by missing its own rosy production targets. Could this out-of-favor EV maker's stock finally bottom out and head higher over the next 12 months?Image source: Lucid.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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