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Wajeeh Khan

Uber Sends Lucid Stock Soaring. Is There More Room for LCID to Run?

Lucid LCID Uber Lucid Group RIVN

Lucid Group (LCID) shares extended gains on Tuesday after ride-hailing giant Uber Technologies (UBER) more than doubled its stake in electric vehicle (EV) maker to 11.5%. 

The announcement arrives only days after UBER signed an agreement to purchase 35,000 Lucid vehicles and raised its overall capital commitment to the company to $500 million. 

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