Why Lucid Stock Is Jumping Today
Lucid Group (NASDAQ: LCID) stock took off this morning, surging 7% higher as of 11 a.m. ET. Although the electric vehicle (EV) maker announced its quarterly numbers last week, a post by the company on X, the social media platform formerly known as Twitter, piqued investors' attention.
This past weekend, Lucid revealed on X that its Air sedan recently participated in tests for the California Highway Patrol (CHP). The company posted pictures of a modified version of the sedan, equipped to look similar to the patrol cars used by the police agency.
In short, Lucid's only vehicle model currently on sale -- the Air -- could soon find its way into the fleet of law enforcement agencies. Although several police departments in California already use EVs, it will be a first for Lucid.
Source Fool.com
