Why Lucid stock is surging

Lucid Motors (NASDAQ: LCID) has had a bumpy ride ever since its initial public offering (IPO) back in mid-2021. The electric vehicle (EV) business set ambitious production and delivery standards for itself — which it subsequently failed to meet. As a result, Lucid stock has been on a steady downward trajectory over the past three years.The situation is also exacerbated by the presence of what can only be described as a double-edged sword. While Lucid has secured the seemingly endless backing of Saudi Arabia ...