This post was originally published on this site
Over the past five days, the stock has gained 53.4% in price to close yesterday’s trading session at $36.99.
However, it is currently trading 75.3% below its 52-week high of $64.86, which it hit on February 18, 2021. The electric vehicle (EV) industry is facing severe semiconductor chip and labor shortages, which could hamper the company’s production plans. Moreover, rising competition in the EV space and the company’s zero revenues so far make its near-term prospects bleak.
