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.

Stocks Reporter FXStreet

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

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.

Author

Stocks Reporter

FXStreet

AUD/USD consolidates above 0.6950 amid risk aversion

AUD/USD consolidates in the Asian session on Thursday, trading just above 0.6950 as traders assess developments in the Middle East crisis. The Pentagon reportedly ordered readiness for potential strikes against Iran. This keeps the geopolitical risk premium in play, which, along with hawkish FOMC Minutes and elevated US bond yields, will likely keep the US Dollar underpinned at the expense of the pair.

USD/JPY slips below 158.00 as USD retreats

USD/JPY returns to the red below 158.00 in the Asian session on Thursday amid speculation that authorities will step in to prop up the Japanese Yen. Meanwhile, the US Dollar eases from near an 18-month high on profit taking, ignoring Wednesday's hawkish FOMC Minutes and the risk of a further escalation of tensions in the Middle East, adding to the pair's pullback.

Gold rebounds from two-month lows; will it sustain?

Gold is bouncing back toward $4,150 early Thursday after defending $4,100 on Wednesday. US Dollar retreats on profit-taking, despite high Treasury yields and hawkish Fed Minutes. Risks remain skewed to the downside for Gold while RSI stays bearish.

Ripple and Stellar test key support amid rising downside risks

Ripple (XRP) and Stellar (XLM) remain under pressure and extend their corrections on Thursday as weakening derivatives metrics and broader macroeconomic headwinds weigh on sentiment. XRP and XLM approach a key support zone after three consecutive days of losses so far this week.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.