Why Lucid Stock Ended Up Moving Higher Today
Shares of electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) started the day in the red, down as much as 5.6%. The stock quickly reversed course, however, rising as much as 4%. By 2:55 p.m. ET, Lucid shares had settled in with a gain of 3.1%.
Lucid didn't put any major news out today, or over the holiday weekend. But the company has been widely discussed as a potential big winner among investors, particularly since fellow EV start-up Rivian Automotive went public last month. Today's move higher has coincided with a rising tech-focused Nasdaq Composite index, as well as a jump in Rivian shares, which was trading nearly 10% higher.
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Source Fool.com
