LCID Stock News: Lucid Motors – Churchill Capital IV edge higher as EV sector climbs
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NASDAQ:LCID added 0.51% on Monday amidst a broader rally from electric vehicle stocks.
- The EV Sector traded higher after a generous price upgrade for Tesla.
- Fisker announces a new EV deal with iPhone maker Foxconn.
NASDAQ:LCID showed some trepidation early in the session, but the stock clawed its way back throughout the day and eked out a small gain by the closing bell. Shares of LCID added 0.51% and closed the day higher at $23.50. The NASDAQ was the only major index to finish in the positive on Monday, as the momentum from the better than expected July jobs report was overshadowed by concerns over rising cases of the delta variant.
Stay up to speed with hot stocks' news!
The broader EV sector carried over its momentum from the summit held by President Biden on Friday, as well as the bipartisan infrastructure deal that is nearing completion. In addition to this, Tesla (NASDAQ:TSLA) received a generous update from Jefferies on Monday. Jefferies upgraded Tesla from a hold to a buy rating, and upped the price target from $700 to $850 per share. It is just another such upgrade Tesla has received in the past couple weeks following its earnings report, as have other institutions including Germany’s DZ Bank and Morgan Stanley as well. Other EV stocks that saw gains on Monday include Chinese EV maker Nio (NYSE:NIO) which gained 3.08%, and XPeng (NYSE:XPEV) which added a further 2.15% to its recent rally.
LCID stock price forecast
Another former SPAC EV rival Fisker (NYSE:FSR) announced a promising partnership with iPhone maker Foxconn over the weekend. The vehicle will target an ‘urban lifestyle’ and will be produced for sale in North America, Europe, and China under the Fisker brand, with production to begin by the end of 2023. Obviously these vehicles would be competing in a different class than Lucid’s Air and Gravity, but as the market continues to become crowded, deals like this could potentially have a long-term effect on Lucid sales.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:LCID added 0.51% on Monday amidst a broader rally from electric vehicle stocks.
- The EV Sector traded higher after a generous price upgrade for Tesla.
- Fisker announces a new EV deal with iPhone maker Foxconn.
NASDAQ:LCID showed some trepidation early in the session, but the stock clawed its way back throughout the day and eked out a small gain by the closing bell. Shares of LCID added 0.51% and closed the day higher at $23.50. The NASDAQ was the only major index to finish in the positive on Monday, as the momentum from the better than expected July jobs report was overshadowed by concerns over rising cases of the delta variant.
Stay up to speed with hot stocks' news!
The broader EV sector carried over its momentum from the summit held by President Biden on Friday, as well as the bipartisan infrastructure deal that is nearing completion. In addition to this, Tesla (NASDAQ:TSLA) received a generous update from Jefferies on Monday. Jefferies upgraded Tesla from a hold to a buy rating, and upped the price target from $700 to $850 per share. It is just another such upgrade Tesla has received in the past couple weeks following its earnings report, as have other institutions including Germany’s DZ Bank and Morgan Stanley as well. Other EV stocks that saw gains on Monday include Chinese EV maker Nio (NYSE:NIO) which gained 3.08%, and XPeng (NYSE:XPEV) which added a further 2.15% to its recent rally.
LCID stock price forecast
Another former SPAC EV rival Fisker (NYSE:FSR) announced a promising partnership with iPhone maker Foxconn over the weekend. The vehicle will target an ‘urban lifestyle’ and will be produced for sale in North America, Europe, and China under the Fisker brand, with production to begin by the end of 2023. Obviously these vehicles would be competing in a different class than Lucid’s Air and Gravity, but as the market continues to become crowded, deals like this could potentially have a long-term effect on Lucid sales.
Like this article? Help us with some feedback by answering this survey:
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.