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Why Lucid Stock Soared Today

TheMotleyFool

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Lucid Group (NASDAQ: LCID) stock soared 13.8% to close on Friday on some apparently good news... that actually wasn't all that great.

This morning, Cantor Fitzgerald analyst Andres Sheppard raised his price target on Lucid stock from $3 to $20. On the face of it, this sounds like Sheppard just got 7x more optimistic about Lucid. Except this is actually the 180-degree wrong way to read this hike.

Image source: Getty Images.

Source Fool.com

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