When Lucid Group (NASDAQ: LCID) rolled onto the electric vehicle (EV) scene in 2021, investors lined up to get a piece of the company, sending its share price soaring in the following months after it went public through a special purpose acquisition company (SPAC). 

But investor enthusiasm has cooled since then, and Lucid's share price is down 61% over the past year. Some investors are asking themselves whether this price drop is a great entry point or an indication of bigger problems at the company. 

While the company certainly has potential in the EV market, there are a few reasons I think it's best for investors to avoid this EV stock right now.

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Source Fool.com