LCID Stock News: Lucid Motors rises as EV sector jumps on Lyft announcement


  • NASDAQ: LCID gained 4% during Wednesday’s trading session. 
  • Lyft makes an interesting announcement for EV companies.
  • Amazon-backed Rivian is finally set to go public at a lofty valuation.

NASDAQ: LCID joined other EV companies on Wednesday as the sector powered higher into the closing bell. Shares of LCID gained 4.03% during the session and closed the trading day at $36.55. The stock managed to buck the trend of losing days from earlier in the week, although some bearish analyst talk has crept into the Lucid narrative. Wednesday was a volatile day for the markets, as the FOMC gave its decision on starting its tapering plan later this month. Despite this, investors clearly believe that the economy is strong enough now as all three major indices kicked higher into the close and finished at all-time highs for the fourth consecutive day. 


Stay up to speed with hot stocks' news!


The EV sector bounced into the close after an interesting announcement from ride sharing company Lyft (NASDAQ: LYFT). First, Lyft reported solid third-quarter earnings results as revenue gained 73% YoY. Lyft’s co-founder John Zimmer also doubled down on the company’s goal of having an all-electric fleet by 2030, saying they are in active discussions with automakers. This comes on the heels of both Hertz (HTTZ) and Uber (NYSE:UBER) ordering a fleet of vehicles from Tesla (NASDAQ: TSLA) for use in both car rentals and ride sharing in the near future. 

Lucid Group stock price

LCID Stock

In other EV news, Amazon (NASDAQ:AMZN) backed Rivian, the electric truck maker, is set to go public within the coming weeks. The company is reportedly offering 135 million shares priced between $57 and $62, which would give Rivian a valuation of up to $54 billion on its first day of trading. Rivian, which is also backed by Ford (NYSE:F), is looking to fill a hole in the electric truck sector and already has a fleet of delivery trucks for Amazon’s last-mile service.

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD pares weekly losses near 1.1150, German GDP, US inflation eyed

EUR/USD is trading around 1.1150, attempting a bounce from 119-months lows of 1.1132. The US dollar eases from multi-month highs amid a return of risk appetite and firmer Treasury yields. US advance Q4 GDP beat estimates with 6.9% YoY. German Prelim GDP and US PCE inflation awaited.

EUR/USD News

GBP/USD bounces off 11-week-old support but not out of the woods

GBP/USD fades the corrective pullback from a horizontal area established since early November, retreating to 1.3380 amid Friday’s Asian session. The cable pair dropped during the last two trading sessions before the bears took a breather around the five-week low of 1.3357.

GBP/USD News

Gold rebounds ahead of US PCE inflation, not out of the woods yet Premium

Gold price attempts a bounce as the US dollar retreats ahead of US PCE inflation. After Wednesday’s $40 sell-off, gold price tumbled another $23 on Thursday, as bulls finally surrendered the $1,800 area to hit the lowest level in two weeks at $1,792. 

Gold News

Why Bitcoin has entered a new bear market

Bitcoin price has tumbled to a multi-month low below $33,000, as the leading cryptocurrency loses 50% of its value from its all-time high in November 2021. This marks the second-worst sell-off since the bear market that spanned from 2018 to 2020. 

Read more

Apple (AAPL) Earnings for Q1 beats estimates on EPS and revenue

Apple (AAPL) reported earnings after the close on Thursday. Earnings per share (EPS) came in at $2.10 versus the estimate of $1.89. Revenue was $123.9 billion versus the estimate for $118.66 billion. AAPL is trading at $162.40 in Thursday's aftermarket, a change of 2% versus the regular session close of $159.16.

Read more

Forex MAJORS

Cryptocurrencies

Signatures