Lucid (NASDAQ: LCID) stock enjoyed a session of strong gains on Tuesday. The electric vehicle (EV) maker’s share price rose 5.2% in the day’s trading. Meanwhile, the S&P 500 rose 0.2%, and the Nasdaq Composite rose 0.3%.
It’s possible that a recent report showing that Tesla has continued to lose market share factored into Lucid’s gains today, but the stock has also been highly volatile recently. Despite today’s valuation pop, the stock is still down roughly 9% over the last month of trading — and it has lost ground since the completion of the company’s 10-for-1 reverse stock split.
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