Can Lucid (LCID) reclaim $55 all-time high in 2024?

The stock price of electric vehicle (EV) manufacturer Lucid Motors (NASDAQ: LCID) continues to face downward pressure, shedding recent gains that helped the equity recover from its all-time low. Notably, LCID received a temporary boost in response to news that competitor Tesla (NASDAQ: TSLA) was recalling over 4,300 vehicles in Australia due to software issues. Despite the short-term upside, Lucid’s gains have been short-lived, resulting in a 36% plunge in 2024.As of the latest price recording, LCID is valu ...