Lucid Is Testing 100 Robotaxis With Uber and Nuro While Executing a $1.4 Billion Cash Overhaul. Here's Whether It's Enough to Turn the Stock Around.
Lucid shares are down 40% this year.
Overview
Lucid Group (NASDAQ:LCID) is finally waving the white flag. After years of consistent financial losses and a struggling stock price, management formally announced an “operational reset” during an investor call on Aug. 4.
According to a press release, the operational reset will focus on executing “four must-win projects.” Lucid investors, as well as investors of other EV stocks, should pay close attention to Lucid’s four areas of focus.
Details
The first priority for Lucid is getting its finances in order. The company’s market cap currently hovers around $2.5 billion. That’s significantly smaller than peers including Rivian (NASDAQ:RIVN) and Tesla (NASDAQ:TSLA).
Source
Originally published at www.fool.com.
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