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Here's Why Lucid Shares Are Down Today

TheMotleyFool

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The stock of highly followed electric vehicle maker Lucid Group (NASDAQ: LCID) has been in decline over the last week, even without any specific news from the company. That trend continued today as shares were down 4.5% as of 2:13 p.m. ET.

There are several reasons that might explain why investors have been selling Lucid. It has a market capitalization of more than $63 billion and hasn't even shipped 1,000 vehicles yet. But there are other low- or pre-revenue EV names that are also extremely highly valued by traditional metrics. This chart might just help explain the recent slide in Lucid shares.