30.11.2022 22:40:01

Why Lucid Group Stock Blasted Nearly 4% Higher Today

Wednesday was a good day for the stock market generally, but it was an especially good day for Lucid Group (NASDAQ: LCID) investors. The electric vehicle (EV) specialist's stock rose by 3.5%, beating the 2.9% gain of the frothy S&P 500 index. Two new analyst notes on the EV space helped push the acceleration pedal on Lucid. The first of the pair was an update on the EV industry by S&P Global Mobility. Citing U.S. electric vehicle registrations, the researcher said that while sector leader Tesla is still the dominant producer, it's losing market share as new vehicle makers enter the market. Another factor in that decline is the intensifying efforts of incumbent manufacturers like Ford. According to data compiled by S&P Global Mobility, Tesla's share of the total EVs registered so far this year is 65%. That's down significantly from the 79% of 2020.Continue reading
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