Lucid stock soars 27% in a day; Is $5 next for LCID?

While it is true that the entire electric vehicle (EV) industry has been suffering from a severe downturn, with even the giants like Tesla (NASDAQ: TSLA) reeling inside its longest losing streak since 2021, few have been as impacted as Lucid (NASDAQ: LCID).In fact, Lucid has been on a rather sustained downward spiral since 2021 and has, throughout 2023, faced multiple setbacks, including failing to meet its own delivery targets and getting kicked off the Nasdaq 100 index – a stock market index that tracks t ...