Hope springs eternal, but it might be misapplied with electric vehicle manufacturer Lucid Group (NASDAQ:LCID). Sure, there was a quick rally in LCID stock recently, and the automaker appears to be wheeling and dealing in Saudi Arabia. This isn’t the right time to consider an investment in Lucid, however, as the company still has major issues. Lucid Group isn’t in danger of going bankrupt tomorrow or next week, so the company’s shares get a “D” rating, not an “F.” There might actually be a good t
If you love cars, and you watch a lot of YouTube, then you know Doug DeMuro. DeMuro has reviewed cars and written about the auto industry for some time now, but his real claim to fame stems from his YouTube channel, where his earnest, no frills, in-depth and entertaining car reviews have afforded him a legion of fan. DeMuro’s channel has over 4.6 million subscribers to date, and his more popular videos garner millions of views each. DeMuro’s internet stardom hasn’t kept him from shunning other pursuits, as he dipped his toe into the startup world with his auction site Cars & Bids, which focus on classic cars from the modern era (typically the ‘80s and up).
Can Lucid Group (NASDAQ:LCID) successfully compete with much bigger and more famous electric vehicle manufacturers? Recent results don’t look good for Lucid, and since the company isn’t ambitious in its EV production goal, financial traders should be cautious with LCID stock. As you may be aware, Lucid’s vehicles are so expensive that they don’t qualify for the $7,500 tax incentives that other EV makers are taking advantage of. Consequently, the company announced its own $7,500 “EV credit” on th