Why Lucid Stock Bounced Back Thursday

In case you missed it, the stock market had kind of a bad day on Wednesday, with the S&P 500 falling 4% and the Nasdaq down nearly 5%. Surprisingly, though, one of the more volatile companies on the market -- electric car start-up Lucid Group (NASDAQ: LCID) -- outperformed a lot of its tech peers, declining by only 2.8%.

News out of Saudi Arabia appeared to be the factor that saved Lucid from falling harder Wednesday. It's also very likely the reason why  Lucid stock rebounded even higher on Thursday -- up a lucky 13% as of 12:30 p.m. ET.  

Image source: Getty Images.

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Source Fool.com