Why Lucid Stock Drove Higher Today
It had been a really rough month for Lucid Group (NASDAQ: LCID) shareholders going into today's trading session. The stock was down more than 30% over the last month, but today's market jump put a big dent in the month-long decline. As of 2:53 p.m. ET, Lucid shares were up 15%, after rising nearly 17% earlier in the day.
A big part of today's jump comes as the overall market is back to favoring higher-risk growth stocks. The rally also stems from relief that Lucid and other early-stage electric vehicle (EV) companies that have been reporting quarterly updates recently have maintained 2022 guidance. But Lucid also had some company-specific news today, with the opening of its first European studio.
Source Fool.com
