Lucid stock is an electric vehicle company that manufactures electric cars. It was founded in 2007 and is based in Newark, California. Its delivery date for its vehicles is October 30, 2021. Its shares are currently at a price of $57. It is a high-growth stock that many investors are buying because of its future prospects.
Its stock has fallen more than 62% year to date, and a recent cut in production guideline has contributed to the decline. But it is worth considering that Lucid is backed by a large number of institutional investors. This could help the company increase its sales and earnings potential in the future. And the company has a firm order backlog, which means it has a stable revenue stream.
Lucid’s production guidance for the current fiscal year was weaker than analysts had expected. While the company is aiming to produce 12,000-14,000 cars by 2022, it’s unclear whether the company will meet this target. Meanwhile, it has been aggressively expanding into international markets, following the Tesla model of having production facilities in major markets.
Lucid Motors has shown substantial growth, with its stock price increasing by 82% over the last three years. Investors may choose to purchase stock or buy the company’s new Lucid Air vehicle. To invest in Lucid stock, you’ll need to open an account with a broker. Make sure to look for a broker with low minimums and minimal fees.