Should You Buy Lucid Stock While It's Below $3?

Industry Overview - The electric vehicle (EV) industry is experiencing growth due to increased consumer interest and government incentives, despite facing challenges [1] - In 2024, 1.3 million EVs were sold, marking a 7% increase from the previous year, but high costs and inadequate infrastructure remain significant barriers for consumers [2] Company Analysis: Lucid Motors - Lucid Motors has faced production challenges and leadership changes, resulting in a 50% decline in stock price from its 52-week high, with shares currently under $3 [3] - The current market conditions for EVs are unfavorable, with reduced government support for infrastructure and incentives, which could hinder Lucid's growth [6][8] - Lucid's vehicles are priced significantly above the average EV price in the U.S., with the cheapest model starting at nearly $70,000, making it difficult to attract a broader customer base [10][12] - The company plans to launch a more affordable model, the Earth EV, priced around $48,000, expected in 2027 or 2028, which could improve production efficiency and customer reach [13] - Leadership instability is a concern, as Lucid is currently searching for a permanent CEO after recent changes, which may affect investor confidence [14][15]