Should You Buy Lucid While It's Below $13?

Core Viewpoint - Lucid's stock has dropped by 50% to under $13 over the past year, raising questions about whether it is a good time to invest, despite significant reasons to avoid the stock currently. Financial Performance - Lucid's revenue increased by 68% year over year in Q3 to over $336 million, but operating losses widened from $770 million to $942 million during the same period [3][5]. - The increase in sales was partly due to customers utilizing federal EV tax credits, which have been eliminated, indicating that the sales gains may not be sustainable [5]. Production and Deliveries - In Q3, Lucid produced 3,891 vehicles, a 116% increase from the previous year, and delivered 4,078 vehicles, up 47% from Q3 2024 [6]. - Despite being publicly traded for over four years, Lucid's production remains low, producing only a few thousand vehicles per month, which is insufficient to compete in the growing EV market [7][8]. Market Position and Future Outlook - The company is attempting to expand its vehicle lineup with the new Gravity SUV and a sub-$50,000 model, but the demand for these new models remains uncertain [8]. - The overall EV market is becoming increasingly competitive, and signs indicate that EV demand may be weakening, posing additional challenges for Lucid [7].