Lucid Stock Collapses On Heavy Volume
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Shares of Lucid Motors (NASDAQ: LCID) have plummeted 24% over the past five trading days, trading just above $2. On Friday, trading volume reached 135 million shares. Investment bank Redburn-Atlantic downgraded Lucid's price target to $1.13, citing competition and production scalability issues. Lucid reported a revenue increase to $807 million for 2024 but a net loss of $2.7 billion. Additionally, the company unexpectedly replaced CEO Peter Rawlinson with COO Marc Winterhoff temporarily, raising concerns among investors.
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