Beyond the Lucid SEC Subpoena: 3 Recent Events Affecting This EV Growth Stock
As if broader market volatility weren't enough, electric car stocks have seen their share prices whipsaw up and down as investors grapple with upside potential and valuation concerns. Few electric vehicle (EV) stocks embody EV euphoria better than Lucid Group (NASDAQ: LCID), which has captured investor imaginations with hopes it could become the next Tesla (NASDAQ: TSLA).
However, Lucid only began mass-producing cars in September and delivering them in October. It plans to deliver only 20,000 cars in 2022, which is about what Tesla delivered every eight days in its third quarter. Here's how three events from this week affect the long-term thesis for Lucid stock.
Image source: Lucid Group.
Source Fool.com
