TRENDING:

GBP/USD

XAU/USD

LCID Stock News: Lucid Group Inc rises as all EV boats rise with Tesla’s tide

NASDAQ:LCID gained 5.21% during Tuesday’s trading session.
The EV sector surged on Tuesday led by Tesla, Rivian, and Nio.
Reports are that the Austin GigaFactory is close to delivering vehicles.

Stocks Reporter FXStreet

NASDAQ:LCID extended its gains this week with a second straight positive session on Tuesday. Shares of Lucid jumped by 5.21% and closed the trading session at $28.87. Global markets were upbeat on Tuesday as it was reported that Russian troops moved away from the Ukraine border and back to their bases in Russia. It wasn’t an official announcement that the attack had been called off but it was enough for investors to buy back into the recent weakness. The NASDAQ led the way as the tech-heavy index gained 2.53%, while the S&P 500 climbed by 1.58%, and the Dow Jones added 422 basis points after snapping its recent three-day slide.

Stay up to speed with hot stocks' news!

Electric Vehicle stocks were amongst the big winners on Tuesday led by industry leader Tesla (NASDAQ:TSLA) which jumped by 5.33%. Electric truck maker Rivian (NASDAQ:RIVN) also gained after another major hedge fund added a significant stake in the company, following in the footsteps of George Soros. Finally, Chinese EV makers also rebounded, particularly Nio (NYSE:NIO) which announced a third new model, the ES7 SUV, to be released by the end of the year.

Lucid Motors stock forecast

Tesla’s gains were what buoyed the EV sector on Tuesday, as the EV maker had a couple of positive headlines. First, CEO Elon Musk reportedly donated $5 billion worth of Tesla shares to charity during his stock sell off earlier this year. In addition to this, it has been reported that Model Y vehicles have been spotted leaving Tesla’s new Austin GigaFactory. Once Austin and Berlin’s GigaFactories are online, Tesla anticipates growing its production by 50% per year for the foreseeable future.

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

Author

Stocks Reporter

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD struggles for direction amid USD gains

EUR/USD is trimming part of its earlier gains, coming under some mild downside pressure near 1.1730 as the US Dollar edges higher. Markets are still digesting the Fed’s latest rate decision, while also looking ahead to more commentary from Fed officials in the sessions ahead.

GBP/USD drops to daily lows near 1.3360

Disappointing UK data weighed on the Sterling towards the end of the week, triggering a pullback in GBP/USD to fresh daily lows near 1.3360. Looking ahead, the next key event across the Channel is the BoE meeting on December 18.

Gold losses momentum, challenges $4,300

Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.

Litecoin Price Forecast: LTC struggles to extend gains, bullish bets at risk

Litecoin (LTC) price steadies above $80 at press time on Friday, following a reversal from the $87 resistance level on Wednesday. Derivatives data suggests a bullish positional buildup while the LTC futures Open Interest declines, flashing a long squeeze risk.

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.

Lucid Motors stock forecast

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025