If You Invested $5,000 in Lucid Stock in May, This Is How Much You Would Have Today
In the first half of this year, global electric vehicle (EV) sales rose 168% compared to the same time frame in 2020. That level of sales growth has ramped up investors' excitement about EV stocks. It's also part of what fueled Tesla stock's stunning rise in 2021 (which only added to investors' EV enthusiasm).
Lucid Group's (NASDAQ: LCID) stock has risen 165% in six months. An amount of $5,000 invested in Lucid stock in May would have become more than $13,000 -- that's 2.6 times in just six months. The key question right now is, can Lucid stock generate similar returns over the long term? Let's discuss that next.
Image source: Lucid Group.
Source Fool.com