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Why Lucid Stock Dropped Today

TheMotleyFool

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Why Lucid Stock Dropped Today: https://g.foolcdn.com/editorial/images/877728/lucid-gravity-row.jpg

Shares of luxury electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) are tanking today. Investors can thank a rival EV maker for the move. Rivian Automotive announced a capital raise, and that has investors focusing on Lucid's capital needs, too.

Lucid shares dropped as much as 10%, and remained lower by 8.6% as of 12:15 p.m. ET.

Image source: The Motley Fool.

Source Fool.com

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