Why Lucid Stock Is Crashing Again Today
Lucid (NASDAQ: LCID) stock is losing ground again in Thursday's trading. The electric vehicle (EV) company's share price was down 7.2% as of 2:30 p.m. ET, according to data from S&P Global Market Intelligence.
News hit yesterday that Tesla had cut Model Y prices again in Germany and other European countries -- a move that is being interpreted as a negative sign for demand in the overall EV market. As a result, Lucid stock is participating in a pullback that's affecting multiple players in the industry. The sell-offs have pushed the stock to another record low.
Tesla has cut the price on its Model Y vehicles by 5,000 euros (roughly $5,430) in Germany and enacted sizable price cuts in other European countries. The move comes roughly a week after rolling out substantial price cuts on its Model 3 and the Model Y vehicles in China.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 80 Buy predictions and 31 Sell predictions.
As a result the target price of 247 € shows a slightly positive potential of 18.84% compared to the current price of 207.85 € for Tesla Inc.
