Lucid Is a Penny Stock

Lucid Is a Penny Stock Public Domain / Wikimedia Commons Shares of Lucid Group Inc. (NASDAQ: LCID), the small maker of electric vehicles (EVs), have dropped 84% in the past year to $2.70. It has become a penny stock, based on the traditional Wall Street measure. It is a sign of Lucid’s desperate situation and the lack of belief it can recover.Lucid’s problems fall into several categories. The first is that EV sales across the industry have slowed. This is true for companies that range from Tesla to Ford. ...