LCID - Why Lucid Stock Is Skyrocketing Again Today
2024-07-12 15:41:35 ET
Lucid (NASDAQ: LCID) stock is soaring in Friday's trading. The electric vehicle (EV) company's share price was up 24% as of 3 p.m. EDT, according to data from S&P Global Market Intelligence .
Lucid stock is surging today following positive comments from CEO Peter Rawlinson about his company's partnership with Saudi Arabia's Public Investment Fund (PIF) -- the EV specialist's majority shareholder. Shares surged earlier this week on the heels of better-than-expected vehicle delivery numbers, and indications that strong support from the PIF will continue is a good sign for the company's operational outlook.
In conjunction with an uptick in bullish momentum around EV stocks , these developments have helped power explosive gains for Lucid stock. The company's share price is now up roughly 59% over the last month.
For further details see:
Why Lucid Stock Is Skyrocketing Again Today