In the course of today, I’ve noticed that Lucid (LCID) stocks have experienced significant fluctuations. However, by 3:15 p.m. Eastern Time, they had taken a dip, approximately 2%. Earlier in the day, they even climbed up to a gain of about 5.8%, but subsequently reversed their trajectory.
In the early part of trading today, Lucid stock experienced growth following the announcement that the company joined a fresh mineral procurement project. A press release was issued today, revealing Lucid’s partnership with mineral providers Alaska Energy Metals, Graphite One, Electric Metals, and RecycLiCo for the creation of minerals essential to the electric vehicle (EV) sector.
Although Lucid has experienced a promising growth phase, its advancements have been temporarily halted with a slight decline in the stock price as we speak. It’s plausible that investors are cashing out their recent profits for the company’s shares, and it’s also conceivable that some shareholders might be worried about Lucid allocating large amounts of funds towards mineral procurement projects when the company remains non-profitable at this stage.
Is Lucid stock a buy right now?
Today, Lucid’s shares have experienced noticeable fluctuations, but their involvement in mineral procurement projects seems strategically sound from a long-term standpoint. Escalating geopolitical disputes between the U.S. and China cast doubts on whether American companies can consistently rely on China for essential minerals needed in critical components.
While today’s mineral news doesn’t necessarily suggest a negative outlook for Lucid, its recent price increase indicates that potential investors should consider their own risk appetite when deciding on this stock. The company’s partnership with Uber for robotaxis and compatibility with Tesla’s SuperCharger network have boosted its share price, making it more appealing to risk-taking investors. However, it remains a speculative investment.
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2025-07-23 23:00