Lucid Recalls 203 Air Sedans: Time to Sell?
Share prices of electric car stocks like Lucid Group (NASDAQ: LCID) have been tumbling of late as rising interest rates, inflation, and geopolitical tensions ripple through markets. On Tuesday, Lucid stock took a further hit after it sent an email to customers saying that it found a defect in certain Lucid Air vehicles. The notice, in accordance with the National Traffic and Motor Vehicle Safety Act, marks the electric vehicle (EV) company's first recall.
Let's determine the severity of the recall and whether it affects the long-term thesis for owning Lucid stock.
Image source: Lucid Group.
Source Fool.com
