Shareholders of Lucid Group (NASDAQ: LCID) haven't had much to cheer about over the past year. The stock of the luxury electric vehicle (EV) maker has plunged 65% in the last 12 months. But shares got a bump today after the company reported its first-quarter production and delivery results.
Those figures appear to be more than what investors expected. Lucid stock jumped more than 6% on the news. As of 11:10 a.m. ET, shares were still trading up by 3% on the day. There's one good reason for why investors liked the data released by the company.
Source Fool.com