Why Lucid Motors Stock Popped Monday Morning
Shares of Lucid Group (NASDAQ: LCID) shot higher by more than 10% this morning after the company released its fourth-quarter electric vehicle (EV) delivery results. While it didn’t hold all of its gains, the stock was still higher by 4% as of 11:35 a.m. ET.
The move has increased the sharp rise in Lucid shares over the past month to more than 60%.
Lucid produced a record 3,386 vehicles and delivered 3,099 vehicles in the fourth quarter. For the full year, the company produced just over 9,000 vehicles and delivered 10,241 EVs. Deliveries outpacing production is a trend seen from fellow EV start-up Rivian Automotive as well as EV leader Tesla last week.
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