Why Lucid Stock Sank 12.4% in March but Could Bounce Back
Lucid Group (NASDAQ: LCID) stock is struggling to find a bottom this year. The once-hot electric vehicle (EV) stock sank even further in March and lost 12.4% in value during the month, according to data provided by S&P Global Market Intelligence.
It's incredible that you can travel farther without having to recharge batteries in Lucid Air Dream Edition than in Tesla's Model S, but you must first have those long-range cars to drive around. Lucid, unfortunately, is facing production hiccups, and those problems are reflected in the stock price's recent performance.
Lucid stock crashed the first day of March after the company said it had delivered only 125 Dream Edition cars in 2021 and "more than" 300 units by February 28 of this year. Investors expected better, as Lucid said last year that it would start deliveries of other models only after delivering 520 Dream Editions.
Source Fool.com
