Lucid Motors (NASDAQ: LCID) stock experienced a significant surge on December 9, 2024, rising by 10% to close at $2.30. The surge came amidst rumors that President-elect Donald Trump might revise his position on U.S. electric vehicle (EV) tax credits. Speculation about policy changes and news of Lucid’s Gravity SUV production drove trading activity, with volume reaching 150.3 million shares—nearly double the daily average.
There have been market rumors spreading around suggesting that the new President-elect might reverse his earlier stance on eliminating EV tax credits. While American EV manufacturers’ luxury vehicles are priced above the current eligibility limits, this news brought optimism to the…
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