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Barchart
Mohit Oberoi

Should You Buy or Sell This EV Stock Near All-Time Lows?

Lucid Motors Lucid LCID Tesla Inc. Peter Rawlinson GM Lucid Air

Lucid Motors (LCID) stock is hitting new all-time lows amid the recent correction in growth stocks on fears of a hawkish Fed. LCID is now down over 19% for 2023, and earlier today fell as far south as $5.44 - its lowest intraday level ever. Previously, the stock set an all-time closing low of $5.47 in June, continuing its dismal run from last year - even as fellow electric vehicle (EV) stocks, like Tesla (TSLA) and Xpeng Motors (XPEV), have recouped some of their 2022 losses.

Lucid went public in 2021, during a time of widespread euphoria toward green energy companies. Lucid Motors was the biggest special purpose acquisition company (SPAC) merger until then – before Grab (GRAB) took the honors later that year – and Churchill Capital IV stock soared 550% on rumors that it would merge with Lucid Motors. 

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