Why Lucid Stock Jumped Monday
Shares of electric-vehicle (EV) maker Lucid Group (NASDAQ: LCID) took off Monday morning, a week after the company provided its financial and operational update to investors. The stock popped about 8% as the market opened, and shares remained up 5% as of 11:32 a.m. ET.
When Lucid reported its fourth-quarter and full-year results last week, news of some future plans was overshadowed by a cut in the company's 2022 production estimate. But with oil prices touching a 13-year high of $130 per barrel overnight, Lucid's announcement is taking on more significance.
The Lucid Air. Image source: Lucid Group.
Source Fool.com
