2024-01-14 03:19:01
The shares of Lucid Company, in which the investment fund owns a majority stake, collapsed to its lowest historical level, as it closed last Friday at a price of $3 per share, which is a very low price.
The stock lost more than 27% of its value during the current year 2024, while last year it lost nearly 60% of its value.
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The company, which specializes in luxury electric cars, suffers from weak sales, competition with car companies, and a price war.
The company was able to sell only 6,001 cars during the past year, 2023, which did not meet the company’s expectations, which were very ambitious. It said that it sent 800 cars for assembly at its factory in Saudi Arabia.
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