Why Lucid Group Stock Dropped Today
Shares of Lucid Group (NASDAQ: LCID) fell on Monday. The luxury electric vehicle (EV) maker's stock had dropped 7.9% as of 3:10 p.m. ET. The drop came as the S 500 and Nasdaq Composite were up by 0.4% and 0.5%, respectively.
The stock is seeing a retreat after a major jump following last week's announcement that it has inked an important deal with Uber Technologies.
On Thursday, the company announced that it is partnering with Uber and the autonomous driving company Nuro to bring robotaxis to a "major U.S. city" by next year. Nuro's technology will be integrated into Lucid's Gravity SUVs, helping boost sales of the company's new vehicle.
Source Fool.com
Uber Technologies Inc Stock
€72.71
-0.260%
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