Lucid Is Gaining Today -- Is the Stock a Buy Right Now?
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Lucid (LCID) stock rose 3.8% amid a broader market dip, following a 25 basis point interest rate cut by the Federal Reserve. This rate reduction could help Lucid refinance its $2.04 billion long-term debt, improving its financial outlook. However, the company continues to face significant losses on EV sales, raising concerns about its investment viability. While backed by Saudi Arabia's Public Investment Fund, risks of stock dilution and poor fundamentals make Lucid a risky buy at this time.
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