Why Lucid Shares Jumped Today
Shares of EV maker Lucid Group (NASDAQ: LCID) looked strong Wednesday, trading up by more than 6% at their peak, even as technology stocks broadly were dropping. At the close, Lucid stock was still up by 3.3%.
The move continued the rebound Lucid shares have been experiencing over the past several weeks. The stock is up by more than 40% just since May 11. But even with that recovery, it's still down by nearly half since the start of 2022.
Though many names in the EV sector made positive moves Wednesday, there also was some company-specific news coming from Lucid. On Tuesday, it announced a new arrangement with Bank of America to offer Lucid customers lease or loan purchase options for its luxury electric sedans.
Source Fool.com
