Could Lucid Stock Help You Become a Millionaire?
Growth investors are always looking for multibagger stocks. After all, who doesn't like the idea of buying a stock and seeing the investment multiply in some years? But before investing in any stock, it is important to understand the associated risks. The key is not to avoid risk altogether, but to take calculated risks, and understand what you are buying well.
Electric vehicle (EV) manufacturer Lucid Group's (NASDAQ: LCID) stock rose significantly in October, and the rally has continued this month. The company started deliveries of its first cars in October. What's more, Lucid's cars offer longer range than any other EV in the market right now. So, can the stock generate multibagger returns in the long run? Let's discuss that next.
Source Fool.com
