Why These 10 Stocks Are Skyrocketing

6. Lucid Group Inc. (NASDAQ:LCID)

Shares of Lucid Group saw a 5-percent jump in the first two days of the trading week, opening at $3.03 on Monday and ending Tuesday at $3.20 apiece, with analysts pointing to its new Gravity SUV as well as other potential partnerships with other established automakers to reduce costs and leverage economies of scale, as having perked up its shares.

In addition, Lucid Group benefitted from news of an increasing number of electric vehicle sales. According to Cox Automotive, a total of 116,000 EV units were sold in November, marking a 10-percent increase from the previous month.

Analysts are also placing their bets on the company’s potential for a rebound, with orders and deliveries seen as key indicators for growth over the next few years. Furthermore, the backing of Saudi Arabia’s Public Investment Fund, which recently invested an additional $1.5 billion, added confidence to the company’s growth prospects.