LCID Stock News: Lucid Group Inc jumps higher on rumors of Apple partnership

NASDAQ: LCID appeared to be heading for another flat trading day on Friday until a veiled article caused a sudden jolt during intraday trading. Shares of Lucid gained 1.96% on Friday and closed the last trading session of the week at $42.22. It was another mixed session to say the least as value stocks plummeted causing the Dow Jones to fall by 201 basis points to be the only major index in the red. The S&P 500 eked out a minimal gain while the NASDAQ managed to rebound from Thursday’s tech sell off and post a gain of 0.59%. 

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The main news that caused the jump in Lucid’s stock price was an article published by the site TorqueNews.com that hinted at a potential partnership with Apple (NASDAQ: AAPL). The tech giant has been searching for a partner to create its Apple Car, and for some reason it seems like TorqueNews.com believes Lucid to be a frontrunner. Other companies that have been linked to Apple’s electric vehicle project are Hyundai and BMW. Neither company has commented on the link so this could just be an article looking for traffic. Either way, it seems to have had a significant impact on the stock during Friday’s session. 

Lucid Motors stock forecast

In other EV news, industry leader Tesla (NASDAQ: TSLA) gained 1.75% on Friday after a couple of new headlines from the company. First, CEO Elon Musk tweeted that Tesla would be accepting DogeCoin as payment for Tesla merchandise at its online store. Second, in a headline that is more damning to its stock, Tesla reported that it is delaying initial Cybertruck production until 2023, which now puts the project about four years behind schedule.

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