Is Lucid Group a Millionaire-Maker Stock?
Lucid Group (NASDAQ: LCID) has a stock price of $2.51 and a market capitalization of just $7.7 billion, making it one of the smallest players in the U.S. electric vehicle (EV) space. However, if they exceed the market's expectations, smaller companies have more potential than larger ones to generate multibagger returns -- sometimes even enough to turn their early shareholders into millionaires.
For Lucid, that would be easier said than done. The EV maker has been grappling with persistent cash burn, competition, and now the impacts of President Trump's trade wars. So is this mid-cap a buy or a sell today?
Lucid stock wasn't always so cheap. In 2021, the company went public via a reverse merger with a special purpose acquisition company (SPAC). That same year, it soared to an all-time high of $58 per share. Today, it's down by more than 95% from that peak.
Source Fool.com
