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Why Lucid Stock Crashed Today

TheMotleyFool

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Why Lucid Stock Crashed TodayPhoto, wide shot, wide-angle lens, Automotive service center, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/c8dbaa5e-abdb-40ac-b919-ed80785b056a.png

Once-hot electric vehicle (EV) stock Lucid Group (NASDAQ: LCID) cooled off Monday morning and sank 5.5% as of 11:15 a.m. ET. At that point in time, Lucid shares were trading just under $38 a share, the "fair value" an analyst just posited on the stock.

On Dec. 20, Guggenheim analyst Ali Faghri started coverage on Lucid stock with a neutral rating and a fair value of $38 apiece. With Lucid stock closing Friday, Dec. 17, at $40.01 a share, it's not surprising to see it sink Monday after the analyst rating.

Image source: Lucid Group.

Source Fool.com

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