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Should You Buy Lucid Stock While It's Below $23?

This luxury EV maker still has a lot to prove.Lucid Group (LCID 0.91%), a producer of luxury electric vehicles (EVs), attracted a lot of attention when it went public on July 26, 2021, through a reverse merger with a special purpose acquisition company (SPAC). Its stock opened at 25.24andclosedatarecordhighof25.24 and closed at a record high of 57.75 per share less than four months later.But then it plunged -- falling so far, in fact, that last month, management felt the need to conduct a 1-for-10 reverse stock split. So as of this w ...