Why Shares of Lucid Group Sank 22% This Week

Shares of Lucid Group (NASDAQ: LCID) fell 22% this week, according to data from S&P Global Market Intelligence. An electric vehicle (EV) brand that once had a market cap of over $75 billion in late 2021, Lucid is now teetering on the brink after another poor quarter and an abrupt CEO transition this week. It is also trying to raise funds to stem the holes in its balance sheet.Here's why the stock was falling this week, and whether investors should consider buying the dip. The bad news just continues for Lucid Group. On June 1st, the company announced that Silvio Napoli, previously announced as the CEO on April 14th, had immediately taken the reins as the leader of the business. The tone of the announcement was a slight surprise, especially given the context around Lucid's business.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool