Is Lucid Stock a Buy Now?
Lucid Group (NASDAQ: LCID) had a record-setting year in 2024. The game plan is to break some more records in 2025. However, the stock is more than 90% below its peak prices in 2021 and is trading hands at less than $3 per share. There's a lot going on here for investors who are wondering if Lucid is worth buying today.
Lucid is an upstart electric vehicle (EV) maker. The fact that it has gone from an idea to production is a hugely impressive feat that shouldn't be diminished. And 2024 was a year filled with important achievements, so the company is executing reasonably well right now.
To put some numbers on that, Lucid delivered a new record number of vehicles in each quarter of 2024, with year-over-year growth of 71% in the fourth quarter. Its gross margin improved steadily throughout the year, with a year-over-year improvement of 72 percentage points in the fourth quarter. It started production of a new line of vehicles, the Gravity SUV, and delivered the first of the new vehicles to customers. It also improved the efficiency of its batteries, achieving a record-setting range rating.
Source Fool.com
