Could Investing $15,000 in Lucid Stock Make You a Millionaire?

Lucid (NASDAQ: LCID) went public through a merger with a special purpose acquisition company in July 2021. The electric vehicle (EV) specialist's share price rocketed higher shortly after its public debut thanks to some encouraging announcements about production and demand for its vehicles.

The company was challenging with upscale vehicles that offered even better performance on some key fronts. But Lucid's share price has since fallen dramatically.

The company's stock is now down approximately 95% from its post-merger peak and has a market capitalization of roughly $6.9 billion. For a $15,000 investment to make you a millionaire, Lucid stock would have to climb roughly 67 times above current levels. Assuming the company's share count held constant, the EV upstart would have a market capitalization of roughly $462 billion at that price.

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Source Fool.com