Is Lucid Group a Buy as Early Investors Cash Out?
Shares of Lucid Group (NASDAQ: LCID) are getting pummeled today. The most likely reason for the sell-off is the expiration of a lockup provision for early-stage private investment in public equity (PIPE) investors. Lucid also published a press release yesterday detailing a production preview of its Advanced Manufacturing Plant (AMP-1) facility for the week of Sept. 27.
Let's break down these two events to see what they mean for Lucid and where the company could be headed from here.
Image source: Lucid Group.
Source Fool.com
