Lucid Stock Might Have Bottomed, But Only Speculators Should Bet on LCID Here

Things have been tough for electric vehicle (EV) stocks this year, even though the rise in gas prices should have theoretically been a positive for the sector. Looking at U.S. companies, Tesla (TSLA) and Rivian (RIVN) are down 17% and 27% year-to-date (YTD), respectively.

Lucid Group (LCID) is among the worst performers, losing 64% so far this year. Once hailed as the “next Tesla," the company has failed to live up to expectations, and while the EV industry meltdown is surely to blame, the company’s execution has also not been up to the mark.