Shares of electric vehicle start-up Lucid Group surged by as much as 47% during trading Thursday, a day after the company confirmed the first customer deliveries of its $169,000 Air Dream Edition sedan would begin Saturday.

Lucid’s stock hit $39.78 a share – its highest point since the company went public through a SPAC deal on July 26 – before retreating to close at $35.48 a share, up by 31.3%.

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LUCID Stock SURGING. Is It A MEME-Like Stock Or For Real? Will It Last Long Term?

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