Lucid Is Skyrocketing Today -- Is the Stock a Buy Right Now?
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Lucid Group's stock surged 40.2% after announcing a significant deal with Uber, which will purchase vehicles for its robotaxi initiative and invest $300 million in Lucid. The partnership is expected to boost demand, with plans to roll out over 20,000 vehicles in the next six years. However, Lucid's long-term success depends on scaling production to achieve positive margins. Additionally, the company plans a 1-for-10 reverse stock split. The deal is seen as a strong buy signal for investors considering Lucid stock.
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