Is Today's Stock Move a Sign It's Time to Buy Lucid?
Last week, investors heard that Lucid Group (NASDAQ: LCID) was drastically cutting its 2022 production target. After initially saying it hoped to produce 20,000 of its fully electric Air sedans in 2022, the company said it was lowering the target in its first full year of production to between 12,000 and 14,000 vehicles.
That sent the stock sliding for a more than 20% drop in the next five days. But shares popped today, putting more light on what should be considered positive news that the company reported last week. That makes it a good time to see if the five-day drop was overdone, and whether Lucid stock is now a buy.
Image source: Lucid Group.
Source Fool.com
