Shares of Lucid Group have plummeted over 94% since their peak at over $55, now trading at approximately $3. However, recent gains, especially from the newly launched Gravity SUV, hint at a potential recovery ahead.
Wall Street analysts have renewed optimism for Lucid due to a broader product range and low expectations for 2025. New models like the Air Pure, Air Grand Touring, and Gravity SUV are pivotal in regaining market strength against competitors like Tesla.
Lucid has recently seen a significant uptick in stock value, gaining nearly 60% since December. With record quarterly vehicle deliveries reported, management is hopeful that the upcoming Gravity SUV will usher in a substantial rise in sales.
To compete with Tesla effectively, Lucid's success hinges on reliable production and the market performance of its Gravity SUV. This model is critical for Lucid to reclaim and expand its position in the highly competitive EV market.
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