Why Lucid Group Inc. (LCID) Went Up on Thursday

We recently published a list of 10 Firms Post Double-Digit Gains on Thursday. In this article, we are going to take a look at where Lucid Group Inc. (NASDAQ:LCID) stands against other firms that posted double-digit gains on Thursday.

Wall Street’s main indices finished in the green territory on Thursday, as investors cheered President Donald Trump’s reciprocal tariffs–but not right away.

The Dow Jones rose 0.77 percent, the S&P 500 increased 1.04 percent, while Nasdaq jumped 1.50 percent.

Ten companies mirrored a broader market optimism, clocking in double-digit gains. In this article, we will explore the reasons behind their impressive performance.

To come up with Thursday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Lucid Group Inc. (NASDAQ:LCID)

Lucid Group saw its share prices grow by 13.59 percent on Thursday to end at $3.26 apiece as investor sentiment was fueled by news of Emad Dlala’s promotion to Senior Vice President of Powertrain, whose role in the company has been instrumental in the development and advancement of Lucid’s powertrain technology.

Dlala has been with Lucid in various technical roles since 2015 where he led efforts to develop breakthrough technologies that achieved unmatched range and performance in the Lucid Air and leading technologies in the Lucid Gravity.

Dlala will continue to be responsible for powertrain development and powertrain engineering, including drive units, power electronics, and batteries as well as Lucid’s efficiency and charging strategy. He previously served as Vice President of Powertrain.

Overall, LCID ranks 9th on our list of firms that posted double-digit gains on Thursday. While we acknowledge the potential of LCID as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than LCID but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.