Lucid Stock Could Skyrocket 85% – Here’s Why Investors Are Watching Closely
Alright, let’s talk about Lucid Motors (NASDAQ:LCID), because it just got a major endorsement from Wall Street that could shake things up. If you’ve been following the EV market, you know Lucid has had its fair share of struggles, but now, a top analyst is saying the stock could surge by a massive 85%. That’s right—Benchmark analyst Mickey Legg just gave Lucid a Buy rating and slapped a $5 price target on it, which is a huge jump from its recent close at $2.69.
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So, why all the excitement? Well, Legg’s optimism comes from the growing EV adoption in the U.S. —we’re talking 1.3 million electric vehicles sold in 2024 , and that number is only expected to climb. Lucid, despite its stock woes, has a few things going for it: cutting-edge technology, solid financial backing, and access to capital. If the company can overcome its production bottlenecks and start delivering more cars, this stock could be a comeback story in the making.
But let’s not ignore the reality—Lucid has had a rough ride since going public in 2021. The stock has plummeted more than 70% , dropping it into penny stock territory. Production issues and weaker-than-expected sales have made investors skeptical, and at this point, a lot of people see Lucid as a high-risk, high-reward bet.
Now, here’s where it gets really interesting: Lucid’s Q4 2024 earnings report drops on February 25. This is a make-or-break moment for the company. If they show strong sales numbers, better margins, or any sign of positive momentum, we could see this stock take off. But if it’s another disappointing report? Well, that $5 target might start looking like a long shot.
At the end of the day, Lucid is in a crucial phase. With strong industry tailwinds, a potential stock surge, and a defining earnings report coming up, investors will be watching closely. Whether you’re a believer or a skeptic, one thing’s for sure—Lucid’s next move could be a game-changer.
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