Lucid Is Skyrocketing Today -- Is the Stock a Buy Right Now?

Lucid (NASDAQ: LCID) stock is seeing strong bullish momentum in Friday's trading thanks to new coverage from an analyst. The electric vehicle (EV) company's share price was up 12.3% in the daily session as of 2 p.m. ET.Lucid stock is rising quickly today after Cantor Fitzgerald published new coverage. Before the market opened this morning, Cantor released a note on Lucid that raised its one-year target on the stock from $3 per share to $20 per share. While the extent of the pricing increase is exaggerated due to the company's recent 1-for-10 reverse stock split, Cantor's new valuation target still implies upside of roughly 10% even after big gains today. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool