Why Fisker, Lucid, and QuantumScape Shares Jumped Today
The market continues to be undecided about the future of the electric vehicle in the industry, pushing stocks lower yesterday and then driving them higher today. We got a decent earnings report from CarMax, but there wasn't a lot of industry news ahead of the holidays; stocks have simply had a volatile week.
Today's biggest movers are Fisker (NYSE: FSR) rising as much as 7%, Lucid Group (NASDAQ: LCID) jumping 4.9%, and QuantumScape (NYSE: QS) rising 7.7% in midday trading. By 3:40 p.m. ET, shares were up 4.9%, 1.5%, and 4%, respectively.
Overall, it seems the used car market is remaining strong after CarMax reported better-than-expected results. Revenue fell 5% in the quarter, but that topped estimates and the company earned $0.52 per share, also beating estimates.
Source Fool.com
