Why Lucid Group Inc. (LCID) Soared On Friday

We recently published a list of What Sent These 10 Stocks Soaring Today? In this article, we are going to take a look at where Lucid Group Inc. (NASDAQ:LCID) stands against other Friday’s best-performing stocks.

The stock market edged lower on the last day of the trading week as investors sold off positions to mitigate risks from the anticipated trade talks between the US and China this weekend.

The Dow Jones and the S&P 500 both fell by 0.29 percent and 0.07 percent, respectively. In contrast, the tech-heavy Nasdaq ended flat.

Beyond the major indices, 10 companies traded strongly, finishing with as much as double-digit gains, thanks to the continued positive earnings performance and optimistic outlooks.

In this article, we name Friday’s 10 best-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Lucid Group Inc. (NASDAQ:LCID)

EV-maker Lucid Group Inc. jumped by 8.66 percent on Friday to close at $2.51 apiece as investor sentiment was fueled by its aggressive expansion plans, shunning news of a mixed earnings performance in the first quarter of the year.

According to the company, it is on track to ramp up vehicle production to 20,000 units per year, more than double the 9,000 units delivered last year.

In the first quarter alone, Lucid Group Inc. (NASDAQ:LCID) delivered 3,109 units, translating to $235 million in sales.

“We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities,” said Lucid Group Inc. (NASDAQ:LCID) Interim CEO Marc Winterhoff.

“Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well-positioned for future success,” he noted.

In the first three months, Lucid Group Inc. (NASDAQ:LCID) saw net loss attributable to shareholders widen by 6.7 percent to $731 million from $685 million in the same period last year. However, revenues grew by 36 percent to $235 million from $172.7 million year-on-year.

Overall, LCID ranks 10th on our list of Friday’s best-performing stocks. While we acknowledge the potential of LCID as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than LCID but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.