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Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. The confusion in the story caused some uncertainty for investors, and the stock was sold off as some decided to take their recent profits off the table. On the other hand, Hertz has already reported that Tesla vehicle deliveries have already started.
Tesla CEO Elon Musk announced that despite the high flying stock, a deal with rental company Hertz has yet to be reached. Speaking of Tesla, shares of the company also cooled off on Tuesday as the stock fell by 3.03% to close the day at $1,171.97. Jonas continues to warn investors that Lucid has a long way to go before it can even be compared to the EV industry leader Tesla (NASDAQ:TSLA). Jonas stood by his incredibly bearish $12.00 price target for Lucid, which represents a near 70% downside from Tuesday’s closing price. On Tuesday, Jonas reiterated his stance on the stock, citing that a majority of the price action over the past month has been a result of retail investors buying up shares rather than institutions. Morgan Stanley analyst Adam Jonas has been a long-time bear of Lucid’s stock. Lucid once again lagged the broader markets as the NASDAQ, S&P 500, and Dow Jones all hit new all-time highs and closed in the green for the second straight session to start the month. Lucid’s stock has been on fire over the past month, gaining over 45% as retail investors piled in. On Tuesday, Lucid’s stock fel a further 3.83% and closed the trading session at $35.13. Shares of the red-hot electric vehicle maker have cooled since the company announced its inaugural deliveries would hit customers at the end of October. NASDAQ:LCID has been stuck in reverse since the calendar flipped over from October to November.
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