Lucid and Nio Are Down Over 30% From Their Highs. Is it Time to Buy?

In a matter of weeks, many growth stocks have gone from hot to cold over fears of an economic slowdown, the omicron COVID-19 variant, and valuation concerns. Lucid Group (NASDAQ: LCID) and Nio (NYSE: NIO) are two very different electric vehicle (EV) companies that are looking to make names for themselves on the global stage. Let's determine if now is the right time to buy Lucid and Nio, or if investors should run for the exits.