Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower on Friday. The stock is down more than 6% over the last five days.
What To Know:
Shares of LCID have grabbed the attention of retail investors and short-sellers alike. The stock is currently one of the top trending tickers on Stocktwits, and 16.51% of shares are being sold short, according to Benzinga Pro.
According to a CNBC report released on Wednesday, Lucid is looking to expand into the Chinese market and plans to introduce cheaper, mass-market electric vehicle (EV) models in the future.
RBC Capital analyst Tom Narayan initiated coverage on Lucid Group with a Sector Perform rating and announced a price target of $6 on Friday.
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LCID Price Action: According to Benzinga Pro, Lucid Group shares are down 2.5% at $5.85 at the time of publication.
Image: TayebMEZAHDIA from Pixabay
