- NASDAQ:LCID kept rallying on Monday, up nearly 10%.
- Motortrend puts out yet another sparkling review of the Lucid Air.
- Lucid announces it is opening a new studio in the Washington DC area.
Update November 9: NASDAQ: LCID jumped to its highest levels since February 2021 at $47.87 before retracing to $45.92 at the close, still adding 9.86% on the day. The Electric Vehicle (EV) stock is up 13% so far in November, having climbed 46% in October. The bullish momentum could be associated with the Air Dream's range rating beating Tesla's longest-range EV, the Model S, by nearly 100 miles. Investors now look forward to Lucid’s growth and production numbers due for release next week.
Stay up to speed with hot stocks' news!
Motortrend put out another review of the Lucid Air Grand Touring on Thursday, and similar to its original review in August, this was also full of praise. Like other publications, Motortrend gushed about the posh and roomy interior of the Air, and raised several comparisons to Tesla’s (NASDAQ:TSLA) Model S in the article. Lucid’s vehicles haven’t been on the roads for long, but the reviews have been positive nearly across the board. Motortrend capped off its review by calling the Lucid Air the ‘most compelling American luxury car in recent memory’.
Lucid group stock price
Lucid also announced that it is opening a brand new studio location in the Washington DC area. It is the eleventh such studio that will be opening its doors on Saturday November 6th, at the Tysons Corner Center Mall. Lucid is planning to open dozens of these studios over the next few years, and has even expanded into Canada with its first studio opening in Vancouver.
Previous updates
Update: NASDAQ:LCID trades at $46.93 ahead of the close, up over 12%, ahead of growth and production numbers scheduled for next week. Wall Street is up to fresh record highs as investors quietly digest moderated tapering from the US Federal Reserve and upbeat employment figures in the country.
NASDAQ:LCID revved higher on Friday as the Arizona-based EV maker saw its stock go parabolic on a flurry of good news. Shares of Lucid soared to close the week, gaining 12.61% to close the trading day at $41.80. It was the highest closing price for Lucid since the stock ran high during the meme stock squeeze in late February. The surge came on a bullish close to the week as the October jobs report came in higher than expected, and all three major US indices closed higher once again. The NASDAQ capped off its strongest week since April, and the S&P 500 rose for the seventh consecutive trading session.
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 clings to recovery gains near 1.0850 ahead of Fedspeak
EUR/USD trades in positive territory near 1.0850 on Friday following a four-day slide. China's stimulus optimism and a broad US Dollar correction help the pair retrace the dovish ECB decision-induced decline. All eyes remain on the Fedspeak.
GBP/USD pares UK data-led gains at around 1.3050
GBP/USD is trading at around 1.3050 in the second half of the day on Friday, supported by upbeat UK Retail Sales data and a pullback seen in the US Dollar. Later in the day, comments from Federal Reserve officials will be scrutinized by market participants.
Gold at new record peaks above $2,700 on increased prospects of global easing
Gold (XAU/USD) establishes a foothold above the $2,700 psychological level on Friday after piercing through above this level on the previous day, setting yet another fresh all-time high. Growing prospects of a globally low interest rate environment boost the yellow metal.
Crypto ETF adoption should pick up pace despite slow start, analysts say
Big institutional investors are still wary of allocating funds in Bitcoin spot ETFs, delaying adoption by traditional investors. Demand is expected to increase in the mid-term once institutions open the gates to the crypto asset class.
Canada debates whether to supersize rate cuts
A fourth consecutive Bank of Canada rate cut is expected, but the market senses it will accelerate the move towards neutral policy rates with a 50bp step change. Inflation is finally below target and unemployment is trending higher, but the economy is still growing.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.