LCID Stock News: Lucid Group Inc trades higher as EV stocks rally after Christmas

NASDAQ:LCID did not start the week off in the green, but by the closing bell Lucid had shrugged off an early intraday sell off to finish the session higher. Shares of Lucid gained 2.66% and closed the trading session at $38.64. There was not any official news from Lucid that warranted the mid-day turnaround, but shareholders will certainly take any gains they can get after the stock has fallen by nearly 30% over the past month. A senior convertible note debt offering plus an ongoing SEC investigation has turned some investors off of the EV maker, but it’s recent inclusion into the NASDAQ 100 is one promising sign that these issues are just minor bumps in the road. 

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It was a green day all around for US-based EV makers as the NASDAQ revved higher and paced the broader markets. The tech-heavy index gained 1.39% to lead the major indices in the first trading session after Christmas. Lucid likely traded higher in sympathy to a couple of other EV stocks on Monday, as Tesla (NASDAQ:TSLA) and Rivian (NASDAQ:RIVN) gained 2.52% and 10.58% respectively. There was not any specific company news from Tesla or Rivian either, but investors were certainly in a buying mood following the Christmas break. 

Lucid Motors stock price

Speaking of Tesla, the EV industry leader is expected to report its fourth quarter delivery figures next week. Early estimates from RBC Capital Markets anticipates a 58% year over year growth in deliveries for the quarter, and an 18% rise in sequential quarters. The firm expects Tesla to announce global deliveries in the ballpark of 285,000 vehicles, which would bring its 2021 total to about 913,000 total deliveries.

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