Lucid Group: Use The Rivian-Volkswagen News To Cut More

Summary:

  • Lucid Group, Inc. investors reacted positively to the Volkswagen-Rivian joint venture news.
  • Lucid recently had an almost 30% short-interest ratio, suggesting some short-covering could have occurred.
  • Lucid already has a cornerstone backer: the Saudi PIF. Don’t expect another strategic backer to emerge.
  • The company still needs more cash flow to scale. Moreover, it has suffered from its inability to scale.
  • Lucid is a fundamentally weak stock with a clear downtrend price action. Don’t expect significant changes. Read on.

Electric Car Maker Lucid To Layoff 400 Employees

Justin Sullivan/Getty Images News

Lucid Stock: Some Respite From Volkswagen-Rivian Joint Venture

Lucid Group, Inc. (NASDAQ:LCID) investors likely cheered the biggest electric vehicle (“EV”) news of the week, as Volkswagen (OTCPK:VWAGY, OTCPK:VWAPY) and Rivian (


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