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The Lucid Tragedy: A $1,000 Investment That Became $89
Lucid Group's (LCID) story is the ultimate EV hype hangover. Launch day 2021: $1,000 invested, nearly doubled in 4 months. Today? That same thousand sits at just $89—a 91% wipeout.
What happened?
**The Promise vs Reality Gap**
- Promised 20K units in 2022 → Actually made 7,180
- Gravity SUV delayed from 2023 → Arrived in 2024
- Stock tanked 82% in 2022 alone
- CEO Peter Rawlinson just quit
Lucid kept moving the goalpost: constantly overpromising, constantly underdelivering. By the time numbers showed signs of improvement, the damage was done.
**Current Situation**
They're targeting 20K units for 2025—literally the original 2022 target, three years late. The only lifeline? Saudi Arabia's sovereign fund keeps the lights on. Without breakthrough execution on production and scale, this stock looks like a cautionary tale wrapped in Saudi capital.
The lesson: even with proven tech and deep pockets, execution beats hype every time. Lucid had both the backing and the talent. It just couldn't ship.