Great News for Lucid Investors. Is the Stock a Buy Now?
The narrative for electric vehicles (EV) has flip-flopped faster than you can turn the pillow to the cold side. The industry went from potentially overhyped, full of optimism, with EVs about to go mainstream to today's narrative of stalling sales growth, charging infrastructure woes, and a lack of affordable options to drive demand.
Despite the surrounding doom and gloom, investors in Lucid Group (NASDAQ: LCID) received some great news when the young EV start-up released first-quarter delivery numbers. Let's take a closer look at that news and whether it makes the stock a buy now.
There hasn't been much good news for EV investors to digest of late. Yet, Lucid reported a 40% jump in first-quarter 2024 deliveries, compared to the prior year. Lucid even cleared a little inventory as it delivered 1,967 Air sedans while producing only 1,728 during the first quarter.
Source Fool.com
