Lucid Stock Moved Into the Fast Lane, but This Nasdaq Biotech Was Monday's Big Winner
Last week was a tough one for the Nasdaq Composite (NASDAQINDEX: ^IXIC), but after several weeks of upward moves, it wasn't surprising to see what some are calling a new bull market take a brief pause. Futures on the Nasdaq were down very modestly early Monday morning before the market opened for regular trading.
There were some big positive movers on the Nasdaq, though, and Lucid Group (NASDAQ: LCID) was one of the most prominent. Yet as much as electric car enthusiasts might appreciate the deal that Lucid just made, the boost in its stock paled in comparison to the much larger gains from small biotech company MoonLake Immunotherapeutics (NASDAQ: MLTX). Below, you'll get the scoop on both stocks and why they're moving higher Monday morning.
Shares of Lucid Group were up nearly 10% Monday morning. The electric vehicle (EV) maker announced a key deal that could help it compete more effectively against rivals in the fast-paced industry while also diversifying its revenue base.
Source Fool.com
