10 Stocks That Led Tuesday’s Charge

2. Lucid Group Inc. (NASDAQ:LCID)

Lucid Group extended its winning streak for a third straight day on Tuesday, closing 8.8 percent at $2.35 each as investors snapped up shares in the company after receiving a rating upgrade from an investment firm.

In its latest report, Morgan Stanley assigned LCID with an “underweight” rating, an upgrade from the “equal weight” rating previously.

It also gave the company a new price target of $3, or a 27.7-percent upside from its Tuesday closing price.

According to Morgan Stanley, it believes that LCID has the opportunity to execute an AI strategy leveraging strategic partnerships with the context of urgency to develop onshore manufacturing capacity for Battery Electric Vehicles as the socket for the AI brain.

“While [LCID] can continue to license out their industry-leading drivetrain technology to legacy OEMs, we see the real value in potential partnerships with AI/ADAS players for advancing autonomy in a software-defined EV socket,” Jonas added.