Lucid (LCID) stock gains take a hold as EV stocks sink

Lucid Group Inc. (NASDAQ: LCID), the EV start-up, had recently seen its stock soaring. However, yesterday its stock took a deep dive. Moreover, today the stock lost significantly in the pre-market trading session.

LCID stock

The LCID stock was down by 3.79% and was priced at $39.84, losing 1.57 points at 8:41 a.m. ET in the pre-market trading session today. The market capitalization stood at $68.17 billion. The stock has again lost the $40 mark as far as the pre-market prices are concerned.

Yesterday, the LCID stock closed at $41.41 (down by 4.02 points, losing as much as 8.85% in value. The share volume traded was 36,293,053, which is less than half of the average share volume of 76,184,087.

On January 11, the LCID stock gained up to 6.20% and traded at $44.3068 (up by 2.5868 points) at 11:40 a.m. ET. The market capitalization stood at $72.2 billion. However, the share volume traded for the LCID stock was 27,881,226, much lower than the average share volume of 80,402,793. The gain was in response to the news of its CEO being responsible for driving revenue growth with disruptive innovation in electric vehicles. Earlier that day, the stock also saw a 0.91% increase in the stock value in the pre-market trading session. The shares were priced at $42.10 (up by 0.38 points) at 8:40 a.m. ET today.

On January 7, 2022, Lucid Group Inc. saw its stock gain substantially when other EV-stocks dipped considerably. The LCID stock surged 13% (up by 4.97 points) and traded at $43.19 at 12:51 p.m. ET. The market capitalization was valued at $66.4 billion. Moreover, the 24-hour trading volume of the shares was 27,384,460. However, the share volume traded was much less than the average volume of 86,533,535. The stock had earlier dropped by a considerable 6.92% last Wednesday. The stock closed at $36.68, down 2.73 points from its previous close of $39.41. However, it had rebounded considerably since then. But today the situation has worsened.

Other Major EV stocks
  • Tesla Inc. (NASDAQ: TSLA), the largest EV-maker, saw its stock tanking after the news of a delay in its CyberTruck production. The TSLA stock closed at $1,031.56, down by a huge 6.75%, yesterday. In today’s pre-market session, the stock lost 3.08% and was priced $999.74 at 8:51 a.m. ET.
  • Rivian Automotive Inc. (NASDAQ: RIVN), has been seeing its stock sinking since quite a long time now. Moreover, the RIVN stock was down by 2.20% and priced at $78.54 at 8:54 a.m. ET in today’s pre-market session.

Naturally, the EV investors are unhappy with this negative development. However, it’s a great opportunity for those who believe in #buythedip.

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