Lucid Stock Jumped Following Coverage From Morgan Stanley Today -- Is It a Buy?
Lucid (NASDAQ: LCID) stock jumped 5.2% in Thursday's trading, according to data from S&P Global Market Intelligence, and an analyst's commentary may be part of the reason.
Before the market opened, Morgan Stanley's Adam Jonas published a note on the luxury electric vehicle (EV) specialist. The analyst maintained an underweight rating on the company, but he said that tough conditions for the business were already priced into the stock.
Lucid is scheduled to report fourth-quarter earnings after the market closes on Feb. 21, and Jonas suggests that the stock might not move much lower based on what's to come in that release or the conference call to follow. The company has already published its vehicle production and delivery numbers for the quarter -- and seen sell-offs in conjunction with that report -- so he could be on to something.
Source Fool.com
