Lucid Group (LCID) shares plummeted 10% after Stifel analysts slashed their price target, citing concerns over future capital needs. Despite a $17 upside potential, caution prevails due to an all-time low trading price of $12.58, an $875 million notes offering, and production challenges impacting growth.

While revenues soared 68% in Q3, Lucid’s $3.31 per-share loss underscored profitability challenges. With seven consecutive record delivery quarters but narrowed production guidance to 18,000 vehicles, the EV firm faces hurdles. The removal of federal EV tax credits and competition from BYD and Xpeng add to the uncertainty.

Market data reveals a sharp drop in electric vehicle sales post-tax credit expiration, highlighting reliance on incentives. Despite risks, some analysts see Lucid stock as undervalued.

Read more at Yahoo Finance: Lucid Motors Stock Just Hit a New All-Time Low. Should You Buy the Dip?