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Why Lucid (LCID) stock is crashing
LCIDLucid (LCID) Finbold·2024-12-19 22:15

Earlier in December, Lucid Motors (NASDAQ: LCID) stock experienced something of a renaissance as it rallied from $2.09 to $2.76 on December 17. The upswing was driven by a wider resurgence for electric vehicle (EV) companies but also by several LCID-specific tailwinds.Specifically, after BlackRock (NYSE: BLK) shocked investors by dumping more than 2 million Lucid shares, the company’s main investor and backer, the Saudi Public Investment Fund (PIF), provided a $1 billion injection.The news that the producti ...