Should You Buy Lucid Stock While It's Trading Below $3?

Electric vehicle (EV) sales are increasing in the U.S. thanks to traditional automakers releasing electrified models and start-ups like Lucid Group (NASDAQ: LCID) selling impressive EVs. The slow shift in the auto industry to EVs is evident in the latest vehicle sales figures, which show electric vehicles account for about 9% of total vehicle sales in the U.S., up from just under 8% last year.Despite increasing EV sales, some electric vehicle start-ups, including Lucid, are having difficulty ramping up production and lowering costs to the point of profitability. Here's where Lucid is struggling to get going and why investors should probably pass on this EV stock for now, despite shares trading around $2.69 as of this writing.I've written about Lucid's struggles plenty of times, so let's start with what Lucid is doing right this time. The company created a great EV sedan that made it on Car and Driver's 2025 10Best list, earned the 2024 Best Luxury EV accolade from Top Gear, and MotorTrend's Car of the Year back in 2022, among other awards.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool