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Why Lucid Stock Jumped 14% in August but Is Falling Back

TheMotleyFool

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Why Lucid Stock Jumped 14% in August but Is Falling Back: https://g.foolcdn.com/editorial/images/790156/stocks-analytics-data-laptop-tracking.jpg

Investors in Lucid Group (NASDAQ: LCID) found some respite in August as shares of the luxury electric vehicle (EV) maker jumped 14.2% in the month, according to data provided by S&P Global Market Intelligence. The stock appears to be struggling to maintain momentum, though, and has already dropped 10.9% so far this month, as of this writing.

What's going on with Lucid?

Lucid was struggling with low production and sales, but its second-quarter numbers released in August lifted investors' hopes. Deliveries jumped 70.5% year over year to 2,394 units, while it produced 2,110 units during the quarter, up around 22% sequentially.

Source Fool.com

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