Why Lucid Motors Stock Surged Higher This Week

This year has been a struggle for many early-stage electric vehicle (EV) companies. Competition has grown, giving consumers more options in several vehicle segments. Lucid Group (NASDAQ: LCID) is one that has struggled to achieve high-volume sales as general EV sales growth has slowed globally.That's led to a 33% decline in the stock over the last year. But Lucid is on the verge of launching its first offering outside of the luxury sedan segment. That's helped the stock bounce 9.5% this week as of Friday morning, according to data provided by S&P Global Market Intelligence.Lucid operates at the high end of the automotive sector. Its 2025 model Air sedans range in price from almost $70,000 to as much as $249,000 for its fully equipped Sapphire trim that can deliver over 1,200 horsepower.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool