https://wccftech.com/lucid-group-comeback-makes-short-sellers-lose-millions-of-dollars/

Newark, California-based electric vehicle manufacturer Lucid Group, Inc's battle against investors who have bet against its share price on the stock market continues to fluctuate. Lucid's share price took a sharp downward turn last month when factors including the expiration of a share selling lockup period expired. This resulted in the short-sellers significantly extending their gains despite having taken losses earlier on. Now, after an upward rally that kicked off this month, the company's short-sellers have lost some of these gains by the close of trading on Monday, reveals fresh data.

According to fresh data shared by S3 Partners, LLC, year-to-date gains for Lucid Group's short sellers stood at $263 million shortly before the close of trading on Monday. This reveals that a price increase that ended yesterday saw the bearish investors reverse roughly 13% of the gains in a little less than two weeks since these gains had stood at a high of $302 million by midday on the 3rd of this month. Lucid's shares opened at $17.79 this month and closed at $20.06 on Monday, for 11% price growth.