LCID Stock News: Lucid Group Inc extends rebound from two-week lows amid upbeat mood

NASDAQ:LCID extends gains on a better market mood.
Lucid is reporting its Q4 2021 earnings on February 28th.
Tesla gets a brand new price target from a Piper Sandler analyst.

Stocks Reporter FXStreet

Update: NASDAQ: LCID added another 5.21% on Tuesday, extending the previous rebound from two-week lows of $25.68. Despite, the upbeat momentum, LCID stock price fell short of the $29 mark, closing the day at $28.87. Prospects of de-escalation of the Russia-Ukraine geopolitical tensions triggered a massive risk-on wave across the market, aiding the rebound in the EV maker.

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The big news for Lucid shareholders on Monday is that the company officially announced a date for its fourth quarter 2021 earnings. The call will take place on February 28th, and the company is doing things a little differently from a traditional company earnings call. Lucid is allowing its shareholders to submit questions directly to management via Say Technologies. Management will pick some of the questions to address during the call, in what will be one of the more interactive earnings calls in quite some time.

Lucid Motors stock forecast

In other news, Tesla received yet another price target raise on Monday from one of its more bullish analysts. Investment firm Piper Sandler raised Tesla’s price target to $1,350 which represents over a 50% upside from Monday’s closing price. Piper Sandler cited that Tesla’s deliveries, rising margins, and capex are all reasons that its stock will likely surge throughout the remainder of 2022. In conflicting news, another firm Bernstein continued to be bearish on Tesla stock, reiterating its underperform rating and holding its $300 price target. It is pretty clear which analyst Tesla investors were listening to on Monday.

Previous updates

Update: NASDAQ: LCID extends gains on Tuesday, heading into Wall Street's close trading at $28.57 per share, up 4.15%. US indexes posted substantial gains as investors rushed to price in a de-escalation of geopolitical tensions between Russia and Ukraine. Tensions are far from over, but at least it seems the Western will avoid a war with Russia. At the time being, the Nasdaq Composite is the best performer, up 2.3%.

Update: NASDAQ: LCID rose higher to start the week on Monday in what turned out to be a very green Valentine’s day for US-based EV makers. Shares of Lucid jumped by 6.19% and closed the first trading day of the week at $27.44. Shares of EV makers were mostly positive despite all three major indices once again closing in the red. Industry leader Tesla (NASDAQ:TSLA) gained 1.83%, while electric truck maker Rivian (NASDAQ:RIVN) soared by 6.46% after it was revealed that billionaire George Soros had initiated a 20 million shares position with the stock in December of last year. Chinese EV-makers were trading lower on Monday after vehicle sales declined sequentially from December to January.

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