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Why Lucid Stock Jumped 16.6% in July

TheMotleyFool

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Investors in Lucid Group (NASDAQ: LCID) had a lot to chew on in July, including a massive robotaxi deal that stunned the markets. Lucid stock rallied 16.6% during the month, according to data provided by S&P Global Market Intelligence, even surging 48% at one point in trading.

Shares, however, seem to be under pressure and have lost around 7% of their value in August so far, as of this writing. Was Lucid's July rally then a dead cat bounce, or is this an opportunity to buy a promising yet beaten-down electric vehicle (EV) stock?

Image source: Getty Images.

Source Fool.com

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