Short sellers target Lucid stock

Lucid Motors (NASDAQ: LCID) has historically been quite a volatile stock. The luxury electric vehicle (EV) maker had its initial public offering (IPO) in 2021 — since then, despite strong backing from Saudi Arabia’s Public Investment Fund (PIF), LCID stock has struggled to move to the upside in a meaningful way without seeing a correction in short order. The company failed to meet its H1 2024 delivery targets by 90% — in addition, the PIF’s significant investment, although nominally a tailwind, led to worri ...