When it went public in 2021, many investors hailed Lucid Group (NASDAQ: LCID) as the "next Tesla (NASDAQ: TSLA)." The luxury electric vehicle (EV) maker attracted a lot of attention for two reasons: It was led by Tesla's former chief vehicle engineer, Peter Rawlinson, and it aimed to deliver 20,000 vehicles in 2022 and 49,000 in 2023.

In reality, Lucid delivered only 4,369 vehicles in 2022 and 6,001 in 2023. It struggled to overcome supply chain constraints, delays, and recalls and repeatedly slashed its prices to attract new customers. As a result, Lucid's stock has plunged 80% over the past three years.

So, is it the right time to buy, sell, or hold this burnt-out EV stock?

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Source Fool.com