Why Lucid Stock Bounced Back Today
Lucid stock recovers after a strong denial and threat of legal action.
Overview
Trading in Lucid Group (NASDAQ: LCID) stock was halted several times yesterday due to volatility after a publication that follows electric vehicle (EV) companies reported that the company was considering filing for bankruptcy or going private.
Shares plunged more than 50% before reversing course after the company called the report false. Lucid then took it a step further. After releasing a letter to the editor of EV (electric-vehicles.com), Lucid's stock popped today. As of 10:13 a.m. ET, Lucid shares were up by 17%.
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.