Shares of Lucid Group Inc. ( LCID ) were down 3.1% in active morning trading on Monday, on a day of heavy-volume one-day rallies. Trading volume was 49.4 million shares, which was about 31.9 million shares higher than the full-day average over the past 30 days. On Monday, the stock rose by 43.0% on the volume of 208.1 million shares. Before that rally, the only official news released from the company was that the company had opened its first retail studio and service center in Montreal, and that after Friday’s completion, the company would hold its annual shareholder meeting on April 24. Media reports suggest the stock’s rally is an unconfirmed report by Betaville that the company’s largest shareholder is looking to take the company private. Betaville described the “immature” unproven market as “rumor” and “scuttlebutt.” A company spokesperson told MarketWatch on Friday that the company does not comment on rumors and speculation. The stock is up 82.7% so far in January, but is down 12.3% over the past three months, while the S&P 500 has gained 4.0% over the past three months.
– Tommy Kilgore
(END) Dow Jones Newswires
01-30-23 1006ET
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