Stock Groups

Is Lucid Air a Good Electric Vehicle Stock to Add to Your Portfolio? By StockNews

by Mike Robinson

[ad_1]

© Reuters. Lucid Air is a good stock to add to your portfolio?

Lucid Group Inc., an EV manufacturer, recently went public through an SPAC transaction backed Wall Street dealmaker Michael Klein. Ex-Tesla Inc. engineer runs the company. It has a solid foothold in this industry. Is the stock worth buying now, considering the current global shortage of semiconductor chips and the possibility that the company will be sued? For a Proforma equity value in excess of $24billion, Lucid Group Inc., a Newark, Calif.-based producer and distributor of electric vehicles, merged with Churchill Capital Corp IV, a special-purpose acquisition company (SPAC), for a consolidated valuation.

In its Nasdaq debut, the stock surged 19.5% in value.

However, closing yesterday’s trading session at $25.07, LCID’s stock is trading 61.3% below its 52-week high of $64.86, indicating bearish sentiment. In addition, a current class-action lawsuit and concerns related to the global chip shortage plaguing the EV industry could raise investors’ anxiety surrounding the stock. Moreover, given the stock’s steep valuation and weak fundamentals, it could be a risky bet.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]