Here's Why I Wouldn't Touch Lucid With a 10-Foot Pole
The electric vehicle (EV) company Lucid Group (NASDAQ: LCID) went public through a special purpose acquisition company (SPAC) in 2021, a time when valuations were loose, capital was abundant, and high-profile SPAC merger announcements were occurring daily.Unfortunately, many companies took advantage of the tremendous market conditions at the time and went public at big valuations before they were ready. Then the stock market took a big hit in 2022, wiping out many of the SPAC targets and sending their stocks into free fall. Lucid was part of this group and has seen its stock decline by over 87% in the past five years.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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