Why I'm Avoiding Lucid Stock Like the Plague
Lucid Group (NASDAQ: LCID) is a company I track very closely. I believe in its business model over the long term. Last year, the company's former CEO revealed that Lucid plans to slowly evolve from a car manufacturer into a tech supplier, and I believe that approach would come with lower capital needs, higher margins, and greater stickiness with customers.
But there's a problem: This savvy approach to business strategy doesn't necessarily make the company a wise investment. And there's one obvious reason why.
Image source: Lucid Group.
Source Fool.com
