Lucid Group Inc (NASDAQ: LCID) shares are trading higher by 3.97% to $12.36 going into the close of Monday's session. Shares of several companies in the auto & auto component space at large are trading higher amid overall market strength as stocks rebound following Friday's selloff after the UK's finance minister reversed the recently proposed tax cuts.
Also, the 10-year U.S. Treasury yield hit an intraday low of 3.920% Monday morning before rising to around the 3.950% level. When interest rates rise, the value of future cash flows is reduced, which in turn lower the value of the stock.
What Happened With Inflation Data Thursday?
According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.2% in September, down from 8.3% in August. The September CPI reading came in above average economist estimates of 8.1%.
On a month-over-month basis, CPI was up 0.4% versus average economist estimates for a 0.2% jump...Read More
According to data from Benzinga Pro, Lucid has a 52-week high of $57.75 and a 52-week low of $11.87.
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