Why Lucid Stock Is Down This Week
Lucid Group (NASDAQ: LCID) stock is ending the week with a whimper, trading down 15.7% as of 11 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
Lucid signed a meaningful deal this week, and an analyst has even called it "one of the most attractive" start-up electric vehicle (EV) stocks out there with huge upside potential. Yet, investors can't seem to shrug off some fears.
The stock surged momentarily earlier this week after Lucid announced a deal with Panasonic Energy for a multiyear supply of lithium-ion batteries. The deal is meant to help Lucid meet growing demand as it ramps up production of its models in 2023 and starts manufacturing the Gravity SUV in 2024.
Source Fool.com
