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Electric-Car Startup Lucid Overtakes Ford in Market Value
BUSINESS | AUTOS & TRANSPORTATION | AUTOS INDUSTRY
Electric-Car Startup Lucid Overtakes Ford in Market Value
Shares of the maker of high-end electric cars climbed Tuesday, and the company is now valued at $89 billion
By Ben Foldy
[email protected]
Updated Nov. 16, 2021 5:18 pm ET
Lucid Group Inc. became the latest electric-vehicle startup to top automotive icon Ford Motor Co. in market value, another example of how investor enthusiasm is intensifying for car companies that shun gasoline.
Stock in Lucid, a maker of high-end electric cars, jumped nearly 24% Tuesday to close at $55.52 a share, following the Monday release of its first financial results as a public company. The rally pushed the company’s valuation to $89.3 billion, surpassing that of Ford for the first time since Lucid’s debut on the public markets over the summer.
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Electric-Car Startup Lucid Overtakes Ford in Market Value
Shares of the maker of high-end electric cars climbed Tuesday, and the company is now valued at $89 billion
By Ben Foldy
[email protected]
Updated Nov. 16, 2021 5:18 pm ET
Lucid Group Inc. became the latest electric-vehicle startup to top automotive icon Ford Motor Co. in market value, another example of how investor enthusiasm is intensifying for car companies that shun gasoline.
Stock in Lucid, a maker of high-end electric cars, jumped nearly 24% Tuesday to close at $55.52 a share, following the Monday release of its first financial results as a public company. The rally pushed the company’s valuation to $89.3 billion, surpassing that of Ford for the first time since Lucid’s debut on the public markets over the summer.
TO READ THE FULL STORY
SUBSCRIBE
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