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.

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Source Fool.com