“Lucid is well below the pace needed to hit even 10,000 cars this years, and that’s why they continue to bleed money,' Jerry Braakman, chief investment officer at First American Trust, said in an interview. 'The stock will continue to be challenged until they can show that they have made a significant progress in the number of units sold'...
Lucid had tapped the capital markets for cash earlier this year, securing an infusion from the Saudi fund, a move that typically does not sit well with shareholders. 'It dilutes the stock, so from a common investor’s standpoint that is a tough space to be in,' Braakman added" (BNN Bloomberg).
Read more about how investors are reacting to the underachievement of EV startups, Lucid and Rivian, and why they favor one over the other in the full article by BNN Bloomberg.
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