Why Lucid Group Stock Popped Friday Morning

Shares of electric car maker and would-be Tesla (NASDAQ: TSLA) killer Lucid Group (NASDAQ: LCID) scored another victory on Friday, rising 5.3% through 11:35 a.m. ET as Tesla shares skidded 1.5% lower.

And here's the real surprise: Lucid has Tesla to thank for this.

Tesla held its first "delivery event" for its new electric Cybertruck last night. Therein, CEO Elon Musk confirmed both the price for the production model of the truck (starting at $60,990, and going up as high as $99,990 for a long-range variant), and also its range -- 250 miles for the base version, 340 miles for AWD, and something like 470 miles with an optional "range extender" battery pack.

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Source Fool.com