Lucid reported third-quarter financial results last week and had a net loss of $992 million. The company is trying to increase production of its Air sedan and its newly launched Gravity SUV and recently sold 262 million additional shares to raise $1.67 billion.

Lucid Group reports strong Q3, yet losses continue to grow. Read why LCID stock is difficult to justify amid reliance on capital and lack of delivery growth.

Intel (NASDAQ: INTC) stock is seeing significant gains in Wednesday's trading. The semiconductor company's share price was up 3.5% as of 2:15 p.m. ET and had been up as much as 3.8% earlier in the daily sessions.

Investors in the electric vehicle (EV) stock seem to be shrugging off their disappointment with President-elect Donald Trump's choice of new Environmental Protection Agency (EPA) leader and shifting focus to things that could give Lucid a new lease of life.