Shares of EV maker, Lucid Group (NASDAQ: LCID) were on an upswing in pre-market trading at the time of publishing on Thursday after a Reuters report that the company will enter the world’s largest automobile market – China.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Lucid will import the cars into China and then sell them but is also willing to consider production in the country.
Last week, the EV major announced a stock offering of $3 billion where 66% of the investment will come from the Saudi Arabia Public Investment Fund (PIF).
Analysts are cautiously optimistic about LCID stock with a Moderate Buy consensus rating based on five Buys, two Holds and one Sell.
