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Why Rivian Stock Popped Today
A bullish buy rating from investment bank Citigroup sent shares of electric car stock Lucid Group (NASDAQ: LCID) flying Thursday morning. In its note out on Lucid stock today, Citigroup explained that it likes the company’s “best-in-class blend of range, performance, charging dynamics, and price” and considers Lucid — which is coming to the EV market literal years behind market leader Tesla — “still early to the premium EV market.” What’s more, Rivian appears to have a sizable sales lead over its rival when it comes to vehicle preorders.
