Why Did Lucid Stock Jump 20% This Week?
Lucid announced a new executive team with a turnaround plan.
Overview
Lucid Group (NASDAQ: LCID) announced Q2 electric vehicle (EV) production and deliveries, and missed expectations by a wide margin. That wasn't the big news from the company this week, though.
Lucid also now appears to have a turnaround plan in place, and that has investors hoping the stock has bottomed. Shares jumped 21% over the past five trading days, even as Lucid stock ended the week on a down note, according to data provided by S&P Global Market Intelligence.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.