Lucid Group rallies after BofA says it is the Tesla-Ferrari of the new EV automakers
Bank of America initiates coverage of Lucid Group (NASDAQ:LCID) with a Buy rating in a well-timed call for the electric vehicle upstart. Lucid is called one of the most legitimate among the universe of start-up electric vehicle automakers and also identified as a relative competitive threat to the universe of incumbent automakers, with "innovative technology, attractive product, compelling brand, clean sheet manufacturing approach, and impressive management."