Where Will Lucid Be in 1 Year?
Like many other electric vehicle start-ups right now, Lucid Group (NASDAQ: LCID) is trying to find its footing in an increasingly competitive market. The company's impressive Air sedan has caught the automotive world's attention, but its stock has failed to impress investors.
So, where is Lucid headed over the next year? I think the company is in for a bumpy ride and could face some of the same production and funding issues it's currently dealing with. Here's why.
Lucid recently announced that it was raising additional cash with a public offering of 262 million shares and a corresponding investment by Saudi Arabia's Public Investment Fund (PIF). The result is an additional $1.67 billion for the company to put toward its operations.
Source Fool.com
