PSNY - Why Lucid Group Polestar and Rivian Stocks Popped on Monday
2024-07-08 15:48:33 ET
Monday dawned bright for electric car stocks, with Lucid Group (NASDAQ: LCID) leading the pack higher on the back of some positive news for EV production and deliveries. Rivian Automotive (NASDAQ: RIVN) and Polestar Automotive (NASDAQ: PSNY) followed right along -- despite Polestar getting some bad news to start off the day.
As of 12:05 p.m. ET, both Lucid and Rivian are up 3.9%, while Polestar is against all odds edging them both out with a 4.3% gain.
Starting with the best news of the day, Lucid announced this morning that it produced 2,110 cars in Q2 2024 -- and delivered 2,394. This means Lucid produced fewer cars this year than last (Q2 2023 production was 2,173 vehicles), but delivered a lot more EVs than a year ago. Q2 2023 deliveries were only 1,404.
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Why Lucid Group, Polestar, and Rivian Stocks Popped on Monday