Why Lucid Motors Stock Soared Today
Lucid (NASDAQ: LCID) got an upgrade today, and the stock is soaring. However, overall, shares of the luxury electric vehicle (EV) maker aren't having a good start to the year. Even after rising 12.3% this morning as of 10:25 a.m. ET, the stock is down by nearly 20% year to date.The company should have a pivotal year, though, and one analyst thinks its shares have dropped too far.Morgan Stanley's Adam Jonas is taking a more bullish stance on Lucid, reports Barron's. The analyst just upgraded his rating to the equivalent of a hold. He previously didn't recommend owning the stock. So what changed?Continue reading
Lucid (NASDAQ: LCID) got an upgrade today, and the stock is soaring. However, overall, shares of the luxury electric vehicle (EV) maker aren't having a good start to the year. Even after rising 12.3% this morning as of 10:25 a.m. ET, the stock is down by nearly 20% year to date.
The company should have a pivotal year, though, and one analyst thinks its shares have dropped too far.
Morgan Stanley's Adam Jonas is taking a more bullish stance on Lucid, reports Barron's. The analyst just upgraded his rating to the equivalent of a hold. He previously didn't recommend owning the stock. So what changed?
