Does THIS Justify Lucid Motors $97 Billion Market Cap? (LCID)

Does THIS Justify Lucid Motors $97 Billion Market Cap? (LCID)

Market growth for the auto industry, with the transition we can name it the Electric Vehicle industry is being spurred by a rising tide of customer demand for more environmentally friendly goods. According to the International Energy Agency, the number of electric vehicles on the road will reach 125 million by 2030. There is a true and magnificent bull market in EV stock, and it is now underway. The increasing tendency in the remainder of the market seems to be somewhat less significant. In order to get exposure to the industry, investors have poured money into electric vehicle start-ups. Companies like Lucid, which went public via a special purpose acquisition company, have benefited from this trend. Over the last several weeks, the value of the LCID stock has skyrocketed and now stands at more than $71 billion. The Bank of America, on the other hand, has revised its value of the firm, and it’s a further Bull.
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