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Why Lucid Motors Stock Soared Today

TheMotleyFool

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Lucid (NASDAQ: LCID) got an upgrade today, and the stock is soaring. However, overall, shares of the luxury electric vehicle (EV) maker aren't having a good start to the year. Even after rising 12.3% this morning as of 10:25 a.m. ET, the stock is down by nearly 20% year to date.

The company should have a pivotal year, though, and one analyst thinks its shares have dropped too far.

Morgan Stanley's Adam Jonas is taking a more bullish stance on Lucid, reports Barron's. The analyst just upgraded his rating to the equivalent of a hold. He previously didn't recommend owning the stock. So what changed?

Source Fool.com

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