- NASDAQ:LCID gained 1.12% during Wednesday’s session.
- More reviews pour in for the Air sedan including from Car and Driver.
- General Motors has its targets set on Tesla in the U.S. EV race.
Update October 7: Lucid Group Inc (NASDAQ: LCID) has been extending its gains, trading at around $24.50 at the time of writing. The electric vehicle world is focused on Tesla and its celebrity founder Elon Musk. The industry leader is holding its closely watched annual shareholders meeting, and that is grabbing attention from other EV-makers – allowing Lucid to shoot higher.
NASDAQ:LCID has been showered with praise from the automotive industry, and the company has yet to even announce a delivery date for its vehicles. Shares of Lucid gained 1.12% on Wednesday, and closed the tumultuous trading session at $24.29. Growth stocks saw a nice rebound into the closing bell as the looming debt ceiling deadline was extended until December by Senate GOP leader Mitch McConnell. The electric vehicle sector traded mostly flat though with Tesla (NASDAQ:TSLA), XPeng (NYSE:XPEV), and Li Auto (NASDAQ:LI) edging higher, and Nio (NYSE:NIO) and Fisker (NYSE:FSR) closing the day lower.
Stay up to speed with hot stocks' news!
More reviews are pouring in for the Lucid Air Dream sedan, its flagship EV model. A key automotive publication, Car and Driver, posted a sparkling review for Lucid, calling the vehicle ‘brilliance’ and an impressive debut effort from the company. Familiar praise for features like the record-breaking range per charge, smooth driving experience, and roomy interior were echoed by the site. Most of the reviews have been stunningly positive so far, which has made anticipation for the official release and delivery of the Lucid Air grow to an all-time high.
LCID stock price forecast
General Motors (NYSE:GM) is taking aim at Tesla according to a report on Wednesday. The legacy automaker is pushing to increase its annual revenue to $280 billion by 2030, and is making major changes to its digital footprint to be more like Tesla. Part of its plans include releasing a $30,000 EV crossover that will appeal to the masses. More of its plans will be unveiled at an Investor Day event that will be scheduled sometime in the near future.
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
Gold gives away some gains, slips back to $2,980
Gold retraced from its earlier all-time highs above the key $3,000 mark on Friday, finding a footing around $2,980 per troy ounce. Profit-taking, rising US yields, and a shift to a risk-on environment seem to be putting the brakes on further gains for the metal.
EUR/USD remains firm and near the 1.0900 barrier
EUR/USD is finding its footing and trading comfortably in positive territory as the week wraps up, shaking off two consecutive daily pullbacks and setting its sights back on the pivotal 1.0900 mark—and beyond.
GBP/USD remains depressed, treads water in the low-1.2900s
GBP/USD is holding steady in consolidation territory after Friday’s opening bell on Wall Street, hovering in the low-1.2900 range. This resilience comes despite disappointing UK data and persistent selling pressure on the USD.
Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.
Week ahead – Central banks in focus amid trade war turmoil
Fed decides on policy amid recession fears. Yen traders lock gaze on BoJ for hike signals. SNB seen cutting interest rates by another 25bps. BoE to stand pat after February’s dovish cut.
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.