Lucid Rockets Higher After 2 Massive Announcements
Don't look now but Lucid Motors (NASDAQ: LCID) just received another boost of momentum, shooting the stock over 40% higher Thursday. The driving force behind its move higher was blasted across headlines: Uber Technologies (NYSE: UBER) to invest $300 million in Lucid to form robotaxi partnership. The great news for investors is that aside from the phenomenal opportunity it presents, is that it could be the last thing it needs to prove to Wall Street. More on this in a second.
But don't overlook the second announcement Lucid made Thursday regarding a potential reverse stock split. Let's dive into both developments and what they mean for investors.
Uber is the driving force behind this three-headed monster partnership. The deal calls for a new robotaxi service that will take an industry-leading, software-defined vehicle of Lucid's new Gravity SUV, infuse it with Nuro's level 4 autonomy system, and deliver a robotaxi service using Uber's vast global network and fleet management.
Source Fool.com
Uber Technologies Inc Stock
The stock is one of the favorites of our community with 91 Buy predictions and 1 Sell predictions.
With a target price of 92 € there is a positive potential of 48.77% for Uber Technologies Inc compared to the current price of 61.84 €.
