The market has turned negative for many high-growth stocks in 2022. After huge run-ups in 2020 and early 2021, investors have sold off speculative technology investments. This is evident when looking at the price of a lot of electric vehicle (EV) stocks, many of which are down 50% or more this year. Lucid Group (NASDAQ: LCID) is among these losers, down 49% so far in 2022 after being one of the most valuable automakers in the world after its public debut in 2021.
Drawdowns are a tough pill to swallow but can provide buying opportunities with shares trading at a discount. Is Lucid Group stock a buy? Let's take a look.
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Source Fool.com