Why Lucid Stock Bounced Back Thursday

Rich Smith, The Motley Fool
·3 min read
Why Lucid Stock Bounced Back Thursday

Surprisingly, though, one of the more volatile companies on the market -- electric car start-up Lucid Group (NASDAQ: LCID) -- outperformed a lot of its tech peers, declining by only 2.8%. News out of Saudi Arabia appeared to be the factor that saved Lucid from falling harder Wednesday. As Lucid announced Wednesday, it has struck a deal to build a new electric car factory in Saudi Arabia -- one with the capacity to churn out 155,000 EVs per year, contributing to what will eventually be a global production capacity of 500,000 EVs per year for the company.

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