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Why Shares of Lucid Are Driving Higher Today

TheMotleyFool

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Why Shares of Lucid Are Driving Higher Today: https://g.foolcdn.com/editorial/images/700248/parent-and-child-charge-an-electric-vehicle.jpg

After stalling in August and the beginning of September, shares of Lucid (NASDAQ: LCID) are racing higher this morning. Investors are powering their portfolios with the electric-vehicle (EV) manufacturer's stock in response to a tech website's report that the company's production rate has increased. In addition, positive news from an analyst is also motivating investors to click the buy button.

As of 10:28 a.m. ET, shares of Lucid are up 5.5%.

Citing an "internal source" and a forum for owners of Lucid EVs, the tech website Wccftech.com claims that Lucid has 40 to 50 vehicles per day rolling off its production line. The company is expected to increase this daily production to 50 to 60 vehicles shortly.

Source Fool.com

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