US5494981039 - Common Stock
LUCID GROUP INC
NASDAQ:LCID (5/13/2024, 6:52:57 PM)
After market: 2.82 +0.01 (+0.36%)2.81
+0.15 (+5.64%)
Lucid Group, Inc. manufactures electric vehicles. The company is headquartered in Newark California, California and currently employs 7,200 full-time employees. The company went IPO on 2020-07-29. The firm is focused on designing, developing, manufacturing, and selling of electric vehicles (EV), EV powertrains and battery systems using its own equipment and factories. The company offers its own geographically distributed retail and service locations and through direct-to-consumer online and retail sales. The company also boasts a product roadmap of future vehicle programs and technologies. The company focuses on in-house technology innovation, vertical integration, and a clean-sheet approach to engineering and design have led to the development of Lucid Air. The Lucid Air is an electric sedan that redefines both the luxury car segment and the electric vehicle space. Lucid Air is manufactured at its greenfield electric vehicle manufacturing facility in Casa Grande, Arizona, Advanced Manufacturing Plant-1. The company also owns and operates a vehicle service network comprised of service centers in metropolitan areas and a fleet of mobile service vehicles.
LUCID GROUP INC
7373 Gateway Blvd.
Newark California CALIFORNIA
P: 15106483553
CEO: Michael Klein
Employees: 7200
Website: https://www.lucidmotors.com/
There are reasons to buy Lucid's stock, but the Biden administration's plan to hike China EV tariffs probably isn't one of them.
As high-end brands lose their appeal and GDP growth falters, its best to shed these consumer discretionary stocks to sell from your portfolio.
China has only a toehold in the U.S. electric vehicle market, and this toe may now get squashed.
Following the EV maker's latest earnings release, there's now even less reason to believe in a potential comeback for Lucid stock.
These are the EV stocks to sell, as they represent fundamentally weak companies with sluggish growth and high cash burn.
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