Lucid Group Keeps Delivering on Its Promises
Share prices of Lucid Group (NASDAQ: LCID) are up a staggering 38% in the last week. While some of the gains could be correlated with Tesla passing $1 trillion in market cap for the first time in its history, the bigger news for electric vehicle (EV) maker Lucid is that it's set to deliver the first wave of Lucid Air Dream Editions to customers this weekend.
The company's critics will point to its $44 billion market cap as being extremely overvalued considering it is only now producing and delivering cars. While it's true that Lucid has high expectations, even for a growth stock, the company deserves credit for hitting its goals on time. Here's a look at where Lucid stands today and what it needs to do to fulfill next year's promises.
Image source: Lucid Group.
Source Fool.com
