LCID Stock Price: Lucid Motors – Churchill Capital IV fails to sustain the bounce above $23

NASDAQ: LCID surges on Thursday amid fresh stimulus talks.
Lucid rival Tesla gets another analyst upgrade on its superior technology.
Another EV SPAC reports its earnings and continues its downward spiral.

Stocks Reporter FXStreet

Update August 6: Lucid Group Inc (NASDAQ: LCID) failed to sustain the early bounce above $23, as the stock settled Thursday at $22.75, up 0.53% on the day. The rally in the NASDAQ index helped LCID stock to stem its three-day losing streak, as the optimism on the US $1 trillion Bipartisan infrastructure bill offset the jitters over the Fed tapering expectations. Despite the rebound, shares of the electric vehicle company remain in close proximity of the two-week lows reached on Wednesday at $22.55.

NASDAQ:LCID erased its gains from Monday, as the stock continues to experience volatility since it merged with CCIV. On Tuesday, shares of Lucid fell by 0.80% and closed the trading day at $23.58. Lucid had a tumultuous session, gapping lower in the morning but rallying in the afternoon for a strong finish. The trend followed the broader markets, which had a choppy start to the day but powered higher into the closing bell. In the week since Lucid completed its merger with the stock has trended lower, dropping by nearly 10% during that time.

Stay up to speed with hot stocks' news!

The rivalry between Lucid and Tesla (NASDAQ:TSLA) is just starting to heat up. The electric vehicle industry leader received another generous price upgrade from an analyst, who cited that Tesla has a technological superiority to the rest of the field. Taiwan-based KGI Securities gave Tesla an outperform rating and upped its price target to one of the highest on Wall Street at $855. The analyst did note that while Tesla’s technology remains superior, its market share of the electric vehicle industry will decrease over time, and named China’s Nio (NYSE:NIO) as one of the main threats to Tesla’s dominance.

CCIV stock news

Channel support at $22.30 which is close to the point of control since launching. The point of control is the price with the highest volume so a strong level. Break here and the next support is at $17.25. The trend is not too strong right now so it might be better to wait for a breakout in either direction.

Another former EV SPAC reported its earnings on Tuesday, and Nikola Motors (NASDAQ:NKLA) continues to deteriorate. Nikola actually managed to top Wall Street estimates for earnings per share and revenues, but the stock dropped 8.68% after the company cited supply chain issues would cause a delay to the long-awaited truck deliveries.

Previous updates

Update: Lucid Group Inc (NASDAQ: LCID) advanced 0.53% on Thursday, to close the day at $22.75 per share. It peaked intraday at 23.29 but was unable to retain gains beyond the 23.00 threshold, despite Wall Street's better tone. All indexes closed in the green on headlines indicating the US Senate resumed discussion on President Joe Biden's spending program, aiming to finish it before the weekend. The DJIA was the best performer, up 271 points, while the Nasdaq Composite advanced 0.78%.

Previous update: Lucid Group Inc (NASDAQ: LCID) has kicked off Thursday's trading session with an upswing of 1.72%, topping the $23 level. Shares of the electric vehicle company have been recovering alongside the broader stock markets, which seems to have forgotten about the Federal Reserve's slow march toward tightening. Fed hawkishness weighed on equities on Wednesday. What is next? Critical resistance awaits at $23.77, the August high recorded on Monday. Further above, $24.28 is the next level to watch.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

GBP/USD extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD holds gains above 1.1400 on hawkish ECB expectations despite US-Iran tensions

The EUR/USD pair trades with mild gains around 1.1405 during the early Asian session on Wednesday. A hawkish tone from the European Central Bank provides some support to the Euro against the US Dollar. Traders await the upcoming ECB interest rate decision on Thursday.

Gold hits two-week highs above $4,100 despite widening Mideast conflict

Gold hits two-week highs above $4,100 in the Asian session on Wednesday. The bright metal seems to ride the optimistic wave that diplomatic efforts are underway. However, concerns about energy-driven inflation risks continue to fuel Fed rate-hike bets. They could act as a tailwind for the US Dollar amid widening US-Iran tensions, which, in turn, could cap the bullion.

The market runs back into AI despite higher Oil and yields

World stocks surged as traders made a spirited return to the market’s commanding centre of gravity, piling back into semiconductors, AI leaders and momentum, with the enthusiasm of a crowd rushing through the one door it still trusts. The Nasdaq led Wall Street higher, semiconductor shares jumped more than 5%, and momentum staged its strongest rebound in years.

The Iranian war has again risen

The Iranian war has again risen to the top of the economics factor list. There is no end in sight. Intelligence experts say the current level of offense/retaliation will not change minds in Tehran, while in Washington, Trump fears all-out war, which would mean boots on the ground.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.