The stock of Lucid Company, in which the Saudi Investment Fund owns a majority stake and which specializes in the manufacture of luxury electric cars, continues to collapse to very low levels, and the stock closed this week at a low price.
The company’s shares closed today, Friday, January 6, 2024, at a price of $3.78 per share, reaching near its lowest historical levels.
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The company, which specializes in luxury electric cars, announced an economical car priced at 50,000 US dollars, expected to be produced in 2025, aiming to compete with Tesla cars, but this announcement did not stop the stock’s ongoing collapse.
Company President Peter Rawlinson says: “We seek to produce vehicles at reduced prices that compete with Tesla vehicles – the Model 3 and Model Y.”
Lucid faced major challenges, its stock collapsed to very low levels, and it faced weak sales and major problems.
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2024-01-05 22:27:02
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