Why Lucid Could Continue to Set Record Quarters but Disappoint Investors

If you bought $10,000 of Tesla stock the day it went public, you'd have roughly $2.9 million right now. That's in a different world compared to the same investment in the broader S&P 500 that would be worth only about $66,000. While Tesla is one of a kind, it's that opportunity and those potential returns that have investors intrigued by other start-up electric vehicle (EV) makers such as Lucid Motors (NASDAQ: LCID) -- and if the latter keeps setting records for deliveries each quarter, should investors jump on board?If you've been following Lucid over the past year and a half, you're probably aware that the company's delivery announcements have been almost entirely positive. Lucid delivered more than 4,000 vehicles during the third quarter, marking its seventh consecutive quarterly record. The result was a sizable 23% increase over the second quarter, and a 46% jump compared to the prior year. Lucid has openly acknowledged that the Gravity production acceleration has gone a bit slower than desired, thanks to supply chain issues, including a shortage of Chinese magnets that held some of the automotive industry hostage during the spring. After navigating its way through some choppy waters that include those supply chain issues, as well as tariffs and the expiration of the $7,500 federal electric vehicle tax credit, there's good news: Significant progress has been made with Gravity production, and the next step for the vehicle should enable the company to continue setting quarterly delivery records.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool