Lucid Group, Inc. is experiencing a rise in its stock price today, driven by positive news regarding its sales performance and technological advancements. According to Motor Intelligence, Lucid's U.S. sales jumped 51% year over year in January, reaching 665 units. This growth is attributed to the strong performance of the Air sedan and the introduction of the Gravity SUV, which has recently gained access to Tesla's extensive Supercharger network. The ability to charge at over 20,000 Tesla Supercharger locations without an adapter is a significant advantage for Lucid's Gravity SUV, enhancing its appeal to potential buyers.
Additionally, Lucid's announcement of new technical details for the Gravity SUV, including its advanced charging technology and impressive range, has likely contributed to the positive sentiment. The Gravity's ability to charge rapidly and its compatibility with both Level 2 and Level 3 charging infrastructure make it a competitive option in the luxury electric vehicle market. These developments, coupled with the company's continued sales growth, are likely bolstering investor confidence.
Lucid's stock is currently trading at $2.88, up 3.04% from the previous close of $2.80. Despite being early in the trading day, the stock has already seen a volume of 20,142,822 shares, which is 22.64% of its average daily volume.