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Why Lucid Stock Bounced Back Today

TheMotleyFool

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Trading in Lucid Group (NASDAQ: LCID) stock was halted several times yesterday due to volatility after a publication that follows electric vehicle (EV) companies reported that the company was considering filing for bankruptcy or going private.

Shares plunged more than 50% before reversing course after the company called the report false. Lucid then took it a step further. After releasing a letter to the editor of EV (electric-vehicles.com), Lucid's stock popped today. As of 10:13 a.m. ET, Lucid shares were up by 17%.

Image source: The Motley Fool.

Source Fool.com

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