Lucid Stock Plummets After Morgan Stanley Downgrade

Lucids shares plummeted over six percent following Morgan Stanleys downgrade, cutting price target from $30 to $10. The investment bank predicts Lucid wont reach gross profitability until 2028, facing operating losses until 2031. Lucid may need to raise $2 billion in new equity, potentially diluting shareholder value. Broader EV industry challenges, like the end of federal tax credits, also impact Lucids future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.