Why Lucid Stock Is Skyrocketing Again Today
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.
Source Fool.com
