Is Lucid Group Stock Your Ticket to Becoming a Millionaire?

Investors who miss out on a huge investment opportunity often look for similar companies that have the potential to do well, too. That's exactly the story in the electric vehicle space, with Tesla being the huge missed opportunity and Lucid Group (NASDAQ: LCID) being a similar company with potential. Only potential isn't enough to make a stock a good investment.Is Lucid stock your ticket to becoming a millionaire, or is it too far behind in the electric vehicle (EV) space to catch up? The risk versus reward balance here is tilted materially in one direction.Lucid makes highly respected EVs with award-winning technology. To be sure, that's a great foundation for the business. The problem is that, like Tesla before it, the company has started at the high end of the auto market. There are only so many customers capable of buying expensive cars. The most recent launch from the company, the Lucid Gravity Touring, is no exception.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool