Because of a number of things, the price of Lucid Motors (LCID) has dropped to a new low.
To begin, the company is in a price war that started with Tesla and is hurting both of them.
Also, traditional automakers that are switching to making electric cars have started lowering the prices of their slow-moving EVs, which makes the competition even tougher.
Pure-play EV manufacturers like Lucid Motors are at a disadvantage because they can't make sales through other channels like traditional automakers can.
Hybrid vehicles, which have both gas engines and electric motors, are also becoming more popular, which is bad for businesses like Lucid Motors.
Hybrid cars are more popular right now, and companies like Toyota have found that they can make money by making them.
This is the reasons that LCID stock price at new low