Lucid Stock Jumped Today. Is It a Buy Around $2?

Earlier this week Tesla reported a 14% decline in second-quarter electric vehicle (EV) deliveries versus last year. Some of that drop is due to increasing competition from traditional automakers and smaller EV makers alike. One of the latter is Lucid Group (NASDAQ: LCID). Lucid serves the high-end market, and just reported second-quarter sales that jumped 38% year over year.Of course, the record 3,309 EVs Lucid sent to customers pales in comparison to the more than 384,000 deliveries Tesla reported. Investors sent Lucid shares higher nonetheless. The stock jumped as much as nearly 9% on the news Thursday morning. At noon ET the stock was still higher by 5.9%.Lucid's new Gravity SUV plugged into Tesla Supercharger. Image source: Lucid Group.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool