Is Lucid Motors a Millionaire-Maker Stock?

When looking for a stock with millionaire-maker potential, I typically gravitate toward companies with small valuations, rapid growth, and a pathway to profitability. With shares down by a whopping 97% from their all-time high of $58 (reached in early 2021), Lucid Group (NASDAQ: LCID) meets at least one of these criteria. But what about the others? Let's dig deeper into the pros and cons of this embattled electric automaker. When Lucid hit the market in 2021, electric vehicles (EVs) were the latest technology hype -- arguably capturing the same level of excitement as artificial intelligence today. The industry leader, Tesla, had recently become profitable. And legacy automakers like Ford Motor Company and General Motors announced plans to shift capital expenditure to the new opportunity.At the time, Lucid looked poised to fill a gap in the market. Like Tesla, it was a fresh, pure-play EV brand without much baggage. However, it differentiated itself by focusing on the ultra-luxury EV market with its first offering, the Lucid Air, which led the industry in terms of range, power, and interior finish.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool