Lucid stock surges on news of a Saudi Arabia factory by 2026: here is where to buy it
- Lucid stock (LCID) is currently trading at $45.47.
- The stock has risen +3.75 (8.99%) today.
- Here is a brief guide on where to buy Lucid stock.
Lucid stock is once again on a positive trajectory after the slight drop in December 2021.
The current surge in Lucid stock price is driven by the positive performance of the motor company and especially the revelations that the company is planning to set up a factory in Saudi Arabia by 2026.
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To help stock traders eying the Lucid stock, Invezz has created a brief article on what it is and the best places to buy it.
To find out more, please continue reading.
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What is Lucid stock?
Lucid stock is the stock of Lucid Group, Inc. and it trades on NASDAQ under the symbol NASDAQ: LCID.
Lucid Group, Inc. is one of the sprouting electric automakers in the US and it is headquartered in Newark, California.
Besides electric vehicles, Lucid also has investments in energy storage and original equipment manufacturing.
Should I buy the LCID stock today?
If you want to invest in an EV stock, then Lucid stock (NASDAQ: LCID) is a fantastic choice.
However, Lucid Motor Company is facing lots of competition from the likes of Tesla, which commands a majority share within the industry. Also, Lucid registered a loss in its Q3 in 2021 and it is still not clear whether the company shall turn around its income.
Lucid stock price prediction
After staying strong despite registering a loss in their Q3, 2021, the value of Lucid stock is expected to rally to $50 before the end of January owing to the rapid growth of the EV market.