Lucid Group Inc. has faced a significant fall in stock price, now sitting at $2.72 per share, down from highs of $56.70. The company, which went public in 2021 via a SPAC merger, is under pressure to remain viable amidst the potential loss of EV tax credits and increased competition from established automakers like Tesla, GM, and Ford. Lucid's production has only slightly improved, and it faces ongoing financial struggles despite receiving additional funding from a Saudi-backed investment fund. Amps on EV price point also impact its market position significantly.
Lucid's stock has plummeted to $2.72 per share, raising concerns about its financial viability amidst stiff competition and potential loss of EV incentives.
Despite a slight increase in production and revenue, Lucid's ongoing losses and reliance on external funding pose challenges for its sustainability.
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