It's costly to lay the groundwork for a successful automotive business, and you need to sell a lot of vehicles before you can manufacture them profitably. Tesla may have opened the door to opportunities for the rest of the electric vehicle industry, but companies must still get off the ground and build up to a point where the business can sustain itself. The company's flagship electric vehicle is setting records. Is there a new clubhouse leader in the electric vehicle industry? Lucid Group (LCID -1.09%) rec ...

The massive drop may have some investors hoping that if Lucid can just regain its momentum in the EV market, perhaps it can achieve its previous share price -- which would be more than a 2,500% increase from its current price. Electric vehicle (EV) maker Lucid (LCID -2.55%) experienced a share price surge after the company went public in 2021. But since about mid-2022, the stock has been on a steady decline and is down 96% from its all- time high of about $58. For one, American consumer interest in electric ...

It is not totally clear why Lucid went from super growth to stagnation. Its cars have historically won their fair share of industry awards and accolades for their quality. But despite offering a good product, Lucid's large, expensive vehicles (the flagship Air Sedan starts at $71,400) were battered by a combination of higher interest rates, increasing competition, and perhaps consumer exhaustion with the EV sector as a whole. To be fair, few automakers have escaped this crisis. Ford and General Motors are b ...