Why Is Lucid Stock Plunging Since November?
Lucid Group (NASDAQ: LCID) is struggling to find a bottom. The electric vehicle (EV) stock crashed 29% in November, according to data provided by S&P Global Market Intelligence, and has dived another 10.6% in December so far. Its steep fall in recent weeks now means Lucid stock is -- hold your breath – down a staggering 77% in 2022.
A lot happened at Lucid in November, but some announcements from the company triggered panic selling as investors realized Lucid is, after all, still a speculative stock.
To prove its viability, an EV company that's just starting out needs to show that there's demand for its vehicles, that its reservation numbers are growing, and that it is capable of increasing production accordingly. November proved vital insight into where Lucid stands on that front.
Source Fool.com
