LCID - Lucid Stock Traded Higher On Wednesday: What Happened? | Benzinga
Lucid Group, Inc. (NASDAQ:LCID, NASDAQ:LCID) saw its shares rise on Wednesday, buoyed by positive market sentiment on continued strength after Tesla reported stronger-than-expected second-quarter delivery numbers.
What Happened: Tesla reported second-quarter deliveries of 443,956 units this week, surpassing the consensus estimate of 439,300 and showing a 14.77% increase quarter-over-quarter. Despite a year-over-year decline of 4.76%, Tesla's performance exceeded analyst expectations, which kicked off a rally in several EV stocks.
What Else: Lucid stock has had a strong week overall. Shares began moving higher on Monday after the company announced that it reached an agreement over a trademark dispute with Gravity Inc.
Lucid said the agreement allows the company to use the "Lucid Gravity" brand without impinging ...