Why Lucid Stock Shot Up Today

Lucid Group Inc LCID shares closed higher by 5.35% to $8.46 in Tuesday's session amid overall strength in EV stocks. Strength in the broader automotive sector may also be in reaction to positive earnings from CarMax Inc.

What Happened?

CarMax shares gained Tuesday as its fourth-quarter bottom-line performance topped expectations. The company also affirmed its long-term financial targets.

KMX reported a fourth-quarter 2023 net revenue decline of 25.6% year-on-year to $5.72 billion, missing the consensus of $6.04 billion...Read More

According to data from Benzinga Pro, LCID has a 52-week high of $22.69 and a 52-week low of $6.09.