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Lucid shares are sinking as Morgan Stanley trims price target sharply to $5. Here’s why LCID stock is unattractive to own even at the current, toned-down valuation.
Lucid Group (NASDAQ:LCID) saw its Morgan Stanley price target cut in half to $5 from $10 on May 6, with the firm keeping its Underweight rating. The cut follows a 29-day stop-sale on the Gravity SUV tied to a supplier quality issue, suspension of full-year guidance, and an unresolved CEO transition. For LCID stock investors, ... Morgan Stanley Slashes Lucid Price Target in Half: Stop-Sale, CEO Hunt Spell Deep Trouble