Polestar
stock gained 14% after the electric-vehicle maker completed its merger with a SPAC the day before. That’s bad news for
Lucid Group
The issue for Lucid (ticker: LCID) isn’t direct competition. Polestar (PSNY) makes the all-electric Polestar 2, a $48,000 sedan that competes with
Tesla
(TSLA) Model 3. Lucid, for its part, sells the $170,000 Air Dream Edition, which costs even more than Tesla’s Model S Plaid, which can top out at $155,000.
