Why Lucid Group Stock Is Soaring Today
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Shares of Lucid Group (LCID) rose 13.2% after the company announced the promotion of Emad Dlala to senior vice president of powertrain. Dlala's leadership is expected to enhance Lucid's powertrain technology amid challenges like flattened sales growth and rising costs. Investors reacted positively, viewing the internal promotion as a sign of confidence. However, the company faces uncertainty with its upcoming SUV model priced around $80,000, especially with changing consumer preferences and potential changes to federal EV tax credits.
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