- NASDAQ:LCID gained 9.86% during Monday’s trading session.
- Biden’s infrastructure bill is nearing completion and EV companies will benefit.
- Tesla tumbles as CEO Elon Musk ponders selling his stake.
NASDAQ:LCID added to its recent bull run to start the week as the EV maker received some excellent news from the US government. Shares of LCID soared by 9.86% on Monday and closed the trading day at $45.92. The stock continues to reach new highs each day and is now trading at its highest levels since the short squeeze back in February. All three major indices closed at record highs once again as the S&P 500 topped the 4,700 level for the first time ever, and the NASDAQ soared on growth stock momentum in the tech sector.
Stay up to speed with hot stocks' news!
The main motivator for the EV sector today was news that President Biden’s upcoming infrastructure bill is making its way through the final vote in the House of Representatives on Monday. The new bill will provide billions of dollars in funding to upgrade electric vehicle infrastructure, as well as additional funding to upgrade the public transit system with zero-emission vehicles. Lucid’s stock has been in a frenzy as of late as it is, with the company finally delivering the first fleet of its flagship Lucid Air sedans to patient customers last week. Shares of Lucid are now up a staggering 100% over the past month of trading.
LCID motors stock forecast
The scene was not as rosy for Lucid’s primary competitor Tesla (NASDAQ:TSLA) on Monday. Shares of the electric vehicle industry leader were down 4.84% during the session, following the news over the weekend that CEO Elon Musk is mulling the sale of part of his stock in the company. The catalyst for this is the fact that Musk is being slapped with a $15 billion tax bill, so he’d likely be selling some stock anyways to cover the amount. Still, investors took some profit after what has been a historic run for the stock over the past couple of months.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD remains offered in the low-1.0900s
The generalised selling pressure continues to weigh on the risk complex, pushing EUR/USD back toward the 1.0900 support level amid a growing risk-off mood, as traders assess President Trump’s reciprocal tariffs and their impact on economic activity.
GBP/USD retreats further and breaks below 1.2800
The US Dollar is picking up extra pace and flirting with daily highs, sending GBP/USD to multi-week lows near 1.2770 in a context where safe-haven demand continues to dictate sentiment amid the chaos of US tariffs.
Gold slips back below the $3,000 mark
Gold has turned lower, slipping beneath the key $3,000 mark per troy ounce amid a broad sell-off across global equity markets. The decline in the precious metal may reflect investors unwinding long positions in gold to offset mounting losses in stocks.
Solana Price Forecast: Bears gain momentum as SOL falls below $100
Solana (SOL) extends its loss by over 7% and falls below the $100 mark at the time of writing on Monday after crashing 15.15% last week. Coinglass data shows that SOL’s leveraged traders wiped out nearly $70 million in liquidations in the last 24 hours.
Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.