Why Lucid, Nikola, and QuantumScape Stocks Popped Today
Rivian (NASDAQ: RIVN) may be the electric vehicle (EV) stock getting the most press this week, but there are plenty of other names in the sector with stock prices soaring. Today, those include Lucid Group (NASDAQ: LCID), Nikola (NASDAQ: NKLA), and battery maker QuantumScape (NYSE: QS). Shares of those three stocks had jumped 9.2%, 3.5%, and 13.9%, respectively, as of 2:55 p.m. EST.
Each of these companies has announced recent progress toward commercializing its EV products, but the stocks have gotten an extra tailwind with Rivian's well-received initial public offering (IPO) this week. With Rivian stock rising for the second day, and the market cap of almost $100 billion bringing it to a valuation above the traditional major U.S. automakers, it's not too surprising to see investors taking other EV stocks along for the ride.
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