LCID Stock Rises 16% From 52-Week Low: Is it a Smart Buy Now?
Lucid (LCID) ZACKS·2024-11-12 23:35
Electric vehicle (EV) maker Lucid Group (LCID) hit a 52-week low of $2.02/share last Wednesday. Since then, this penny stock has rallied roughly 16%. The company’s third-quarter results (released last Thursday) were somewhat mixed. While Lucid incurred a wider-than-expected loss in the quarter, revenues surpassed estimates. But what seems to have renewed investor confidence in the stock is the opening up of the order book for its new offering — Gravity SUV. Additionally, LCID posted on X yesterday that its ...