Why Lucid Stock Jumped Today
Lucid (NASDAQ: LCID) stock climbed in Thursday's trading. The electric vehicle (EV) company's share price ended the daily session up 4.5% and had been up as much as 7% earlier in the day's trading.
Lucid stock gained ground today thanks to strong early reviews for the company's Gravity SUV. The vehicle is the first SUV made by the luxury EV company. Gravity's Grand Touring models start at $94,900, and Lucid plans to roll out a lower-cost model next year.
Lucid announced last week that production on the Gravity SUV had started at its manufacturing plant in Arizona. This Tuesday, the company announced that the environmental protection agency (EPA) had finalized certification that the vehicle has a range of 450 miles on a full charge. Now, the company has gotten its vehicle into the hands of automotive reviewers -- and early results are largely positive.
Source Fool.com
