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Stock impact report

Here's Why I Wouldn't Touch Lucid With a 10-Foot Pole [Yahoo! Finance]

Lucid Group, Inc. (LCID) 
Company Research Source: Yahoo! Finance
Lucid creates high-quality electric vehicles, but the company is quickly burning through cash. The electric vehicle market is struggling as a whole. 10 stocks we like better than Lucid Group › 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. Still, many see long-term potential in the EV market and appreciate Lucid's vehicles. In July, the ride-hailing giant Uber Technologies invested $300 million in Lucid a Show less Read more
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