LCID Stock News: Lucid Group Inc surges to close the month as growth stocks rebound
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UPGRADE- NASDAQ:LCID gained 8.25% during Monday’s trading session.
- EV stocks rally as Tesla gets another Wall Street upgrade.
- Lucid begins taking formal reservations for its vehicles in Europe.
NASDAQ:LCID joined into the green rally on Monday as investors decided to bid farewell to one of the worst months of trading in recent memory. Shares of LCID surged by 8.25% and closed the final trading session of January at $29.39. It was another day that saw the NASDAQ rally further from its recent correction, as the growth-heavy index jumped by 3.41%. Meanwhile the blue-chip Dow Jones re-added 406 basis points, and the S&P 500 climbed by 1.89% to cap off its worst month of trading since the onset of the COVID-19 pandemic.
Stay up to speed with hot stocks' news!
The electric vehicle sector was in full stride on Monday as the sector rallied around yet another bullish upgrade for Tesla (NASDAQ:TSLA). Credit Suisse raised its rating on Tesla’s stock to outperform on Monday and provided a revised price target of $1,025. Other EV stocks moved higher as well including Rivian (NASDAQ:RIVN) which gained 15.09%, Nio (NYSE:NIO) which added 17.27%, and of course, Lucid Group as well. It is exactly what the sector needed after being beaten down during the recent growth sell off. Shares of TSLA gained 10.68% during Monday’s session.
LUCID motors stock forecast
It appears that Lucid’s plans to aggressively expand are in full swing, as it was reported that the company has advised customers with pre-orders in Europe to upgrade those to official reservations. The company is planning to expand into Europe at some point this year, into the automotive market of China in 2023, and have a fully functional production plant in the Kingdom of Saudi Arabia by 2026.
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- NASDAQ:LCID gained 8.25% during Monday’s trading session.
- EV stocks rally as Tesla gets another Wall Street upgrade.
- Lucid begins taking formal reservations for its vehicles in Europe.
NASDAQ:LCID joined into the green rally on Monday as investors decided to bid farewell to one of the worst months of trading in recent memory. Shares of LCID surged by 8.25% and closed the final trading session of January at $29.39. It was another day that saw the NASDAQ rally further from its recent correction, as the growth-heavy index jumped by 3.41%. Meanwhile the blue-chip Dow Jones re-added 406 basis points, and the S&P 500 climbed by 1.89% to cap off its worst month of trading since the onset of the COVID-19 pandemic.
Stay up to speed with hot stocks' news!
The electric vehicle sector was in full stride on Monday as the sector rallied around yet another bullish upgrade for Tesla (NASDAQ:TSLA). Credit Suisse raised its rating on Tesla’s stock to outperform on Monday and provided a revised price target of $1,025. Other EV stocks moved higher as well including Rivian (NASDAQ:RIVN) which gained 15.09%, Nio (NYSE:NIO) which added 17.27%, and of course, Lucid Group as well. It is exactly what the sector needed after being beaten down during the recent growth sell off. Shares of TSLA gained 10.68% during Monday’s session.
LUCID motors stock forecast
It appears that Lucid’s plans to aggressively expand are in full swing, as it was reported that the company has advised customers with pre-orders in Europe to upgrade those to official reservations. The company is planning to expand into Europe at some point this year, into the automotive market of China in 2023, and have a fully functional production plant in the Kingdom of Saudi Arabia by 2026.
Like this article? Help us with some feedback by answering this survey:
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