Lucid Group's stock price has plummeted, dropping 80% over the last two years, a stark contrast to the S&P 500's 48% increase, indicating severe investor concerns.
Despite M&A funding from Saudi Arabia's Ayar Third Investment Company, Lucid continues to experience significant financial losses, with a third-quarter net loss rising to $992 million.
In the third quarter, Lucid delivered a mere 2,781 vehicles, raising a modest $200 million in revenue, which points to troubling underlying performance that worries investors.
The anticipated removal of the $7,500 EV purchase tax credit may affect the EV market, yet Lucid is navigating this by offering leasing options for its luxury Air sedan.
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