Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Shares of Lucid Are Sliding Today

TheMotleyFool

0 0

Why Shares of Lucid Are Sliding Today: https://g.foolcdn.com/editorial/images/723095/family-charges-an-electric-vehicle-in-a-garage.jpg

Maintaining the downward momentum that resulted in a decline of more than 5% yesterday, shares of Lucid (NASDAQ: LCID) are down 4.2% as of 11:36 a.m. ET.

Besides an analyst's bearish take on the stock, investors are continuing to wrestle with the EV company's apparent demand problem -- something that seems even more disconcerting when considering how EV peers are not encountering the same issue.

Maintaining a buy rating on the stock, Itay Michaeli, a Citigroup analyst, lowered the price target on Lucid's stock to $11.50 from $12. The new price target implies upside of 33% upside from where shares ended after yesterday's trading session.

Source Fool.com

Like: 0

LCID

Share