LCID Stock News: Lucid Motors – Churchill Capital IV ekes out small gain during turbulent session


Share:
  • NASDAQ:LCID added 0.04% on Wednesday after most of its morning gains were erased.
  • Lucid investors are banking on President Biden’s infrastructure bill.
  • Nio reported its earnings today and topped Wall Street estimates.

NASDAQ:LCID had another roller coaster session on Wednesday, as the stock continues to confound investors following its merger with CCIV. Shares of LCID closed the day up 0.04%, despite trading much higher during the morning session. The stock traded as high as $25.00 out of the opening, but erased most of its gains and closed the day at $24.47. Overall, shares are down from the $28.00 per share the stock merged at, and have fallen about 9% over the past month. Lucid investors definitely expected the stock to ride higher once it was trading under the LCID symbol, but it seems that institutions are still concerned with the valuation of the stock.


Stay up to speed with hot stocks' news!


Another catalyst investors are hoping will ignite a fire under Lucid is the recent infrastructure bill that just passed through the senate. The new bill is set to provide billions of dollars in funding for domestic EV Makers, as well as upgrading the current charging infrastructure. The hope for President Biden is to have 500,000 EV chargers around the country in the coming years, and that domestic EV Makers like Ford (NYSE:F) and General Motors (NYSE:GM) will have a majority of their vehicles made electric by 2030. 

LICD stock price forecast

In other EV news, Chinese EV maker Nio (NYSE:NIO) reported its second quarter earnings after the close on Wednesday. The company topped Wall Street estimates on both earnings per share and revenues, and provided guidance that is slightly higher than what Wall Street projected for the remainder of 2021. Nio also reported it is planning to release three new vehicles in 2022, as the company approaches profitability and begins to scale up its deliveries. 


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

Share: Feed news

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.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

AUD/USD grinds above 0.6860 key support on softer Aussie trade surplus, RBA, Fed’s Powell eyed

AUD/USD grinds above 0.6860 key support on softer Aussie trade surplus, RBA, Fed’s Powell eyed

AUD/USD remains sidelined around the intraday high near 0.6890, portraying the typical pre-data anxiety, as the Aussie pair traders await the Reserve Bank of Australia’s (RBA) monetary policy meeting announcements on early Tuesday. 

AUD/USD News

USD/JPY tumbles toward 132.00 after Japan confirms 'stealth intervention'

USD/JPY tumbles toward 132.00 after Japan confirms 'stealth intervention'

USD/JPY is sinking toward 132.00 in the Tokyo open as Japan's Finance Ministry confirmed a  stealth intervention in the forex market. The BoJ conducted an intervention in the yen on instructions from the Finance Ministry. Focus shifts to Fed's Powell. 

USD/JPY News

Gold struggles below $1,900 as Federal Reserve Chairman Jerome Powell’s speech looms

Gold struggles below $1,900 as Federal Reserve Chairman Jerome Powell’s speech looms

Gold price (XAU/USD) treads water around $1,865, following a corrective bounce off the one-month low, as the bullion traders await Federal Reserve (Fed) Chairman Jerome Powell’s speech amid hawkish bias over the United States central bank’s next move.

Gold News

Will Binance Coin price face a drawdown as Binance suspends USD bank transfers from February 8?

Will Binance Coin price face a drawdown as Binance suspends USD bank transfers from February 8?

Binance is the biggest cryptocurrency exchange in the world. It also emerged as a key player in the crypto industry owing to its initiatives following the FTX collapse in November 2022.

Read more

Reserve Bank of Australia Preview: No choice but to keep hiking rates Premium

Reserve Bank of Australia Preview: No choice but to keep hiking rates

The Reserve Bank of Australia (RBA) will announce its monetary policy decision on February 7, with the Board expected to pull the trigger by another 25 basis points (bps). 

Read more

Forex MAJORS

Cryptocurrencies

Signatures