Why Lucid Group Stock Gave Back Some Gains Today
Bolt promised to buy 100,000 Lucids, but can it afford them?
Overview
Lucid Group (NASDAQ: LCID) stock leapt ahead nearly 6% yesterday after announcing plans to team up with Estonian rideshare company Bolt. Bolt plans to deploy 25,000 autonomous Lucid EVs throughout Europe and the Middle East (with no specific target date for completion), and then grow that number to 100,000 EVs by 2035.
Now that investors are starting to dig into the details of the plan, however, doubts are emerging -- and Lucid stock is giving back part of its gains, down 3.6% through 1:45 p.m. ET.
Image source: The Motley Fool.
Details
Source
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.