If You Invested $3,000 in Lucid Group in 2021, This Is How Much You Would Have Today
Lucid Group (NASDAQ: LCID), the luxury electric vehicle maker led by Tesla's (NASDAQ: TSLA) former chief vehicle engineer Peter Rawlinson, went public on July 26, 2021 by merging with the special purpose acquisition company (SPAC) Churchill Capital Corp IV. The combined company's stock started trading at $25.24 per share and skyrocketed to a post-merger high of $55.52 on Nov. 16, but is now only worth about $9.
In other words, a $3,000 investment in Lucid on its first trading day would have briefly blossomed to nearly $6,600 before shrinking to about $1,000 today. Let's see why Lucid initially attracted so much attention, why it lost its momentum, and where its stock might be headed in the future.
Image source: Lucid.
Source Fool.com
