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Retail traders are buying up EV stocks like Rivian and Lucid as Tesla slumps amid Elon Musk's share sales

14 days ago   |   By

Rivian. Rivian
Retail traders have bought $378 million of shares in Rivian, Ford, and Lucid in the past week.
Tesla rival Rivian went public last week and has since doubled in value to about $150 billion.
Tesla CEO Elon Musk has sold about $8 billion worth of shares causing the stock to slump.
Retail traders are pouring into other electric vehicle stocks besides Tesla amid Elon Musk's multibillion-dollar share sale. The retail crowd has purchased $378 million worth of shares in Rivian , Ford , and Lucid , in the past week - surpassing demand for Tesla - according to Bloomberg , which cited...
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Lucid executives say the company's stock has a long way to go but the EV maker could soon be valued like incumbent rivals

14 days ago   |   By

Lucid Motors CEO Peter Rawlinson. REUTERS/Caitlin O'Hara
Lucid Motors stock still has a long way to go but the firm could soon be valued like its rivals.
"I think the sky's the limit in terms of valuation, but it's all about execution," CEO Peter Rawlinson told CNBC.
Lucid's market cap is now $87 billion, topping Ford's $79.4 billion but still far below Tesla's roughly $1 trillion.
Lucid Motors stock still has a long way to go, but the electric vehicle maker could soon be valued like incumbent rivals, its executives told CNBC Tuesday. "I feel great about our stock price," CFO Sherry House...
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