Why Is Everyone Talking About Lucid Stock?
Lucid Group (NASDAQ: LCID) started working on electric vehicle (EV) battery systems in 2008, and had built a test EV by 2014. However, it's only now that Lucid has become the talk of the town -- Lucid stock has doubled in value in just two months' time, now commanding a market capitalization of nearly $85 billion as of this writing.
While Lucid's first electric car has already stunned many, a coveted industry award and strong reservation numbers are just some of the things that have triggered such massive interest in Lucid shares in recent weeks. Importantly, many believe this could just be the beginning of an unstoppable rally for the stock given the EV maker's growth plans. Here's all you need to know.
Lucid shares debuted in the U.S. in late July, but it started to gain attention only in mid-September after the market got the first real glimpse of the kind of cars Lucid is building -- the Environmental Protection Agency (EPA) gave its longest-range rating yet for an EV to the Lucid Air Dream Edition, at 520 miles. Beating Tesla's (NASDAQ: TSLA) Model S by more than 100 miles, Lucid soon emerged as the first real potential threat to Tesla in the eyes of EV enthusiasts.
Source Fool.com
