Bank of America Just Cut Its Price Target on Lucid Motors (LCID) Stock

It hasn’t exactly been a good year for Lucid (NASDAQ:LCID) stock. Shares of the pure-play electric vehicle (EV) company are down by about 35% so far in 2024 amid an EV price war, high interest rates and a current preference for hybrids over EVs.Yesterday, Lucid reported its first-quarter delivery and production metrics. The company’s deliveries grew by 40% year-over-year (YOY) to 1,967 vehicles, beating the analyst estimate for 1,745 vehicles. However, Q1 production of 1,728 vehicles missed the analyst esti ...