Lucid Group Keeps Burning Cash While Rivals Scale Production. Is There Still a Bull Case Left?

It's been a wild ride for Lucid Group (NASDAQ: LCID) shares this summer. In July, the stock briefly fell to $2.37 per share amid bankruptcy rumors. Shares sharply rebounded when the company denied these rumors, but since then, this floundering electric vehicle (EV) stock has fallen back into a downward spiral.Why? Chalk it up to Lucid's latest quarterly earnings. The company once again reported heavy cash burn and results that fell short of expectations. Management also candidly conceded major flaws in its past execution. Yet while newly appointed CEO Silvio Napoli may have been trying to hit the "reset button," all this did was remind investors how Lucid remains a clunker among electric car stocks.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool