On Monday, shares of Lucid Group (LCID) are experiencing a decline in trading. As of 2:45 p.m. ET, the stock’s price has dropped by 7.2%. This comes against the positive backdrop of a 0.5% increase for the S&P 500 index and a 0.7% rise for the Nasdaq Composite index.
Today, the overall market is surging once more, yet the upward push hasn’t been sufficient to halt sell-offs for Lucid Group’s shares. The company experienced significant increases in valuation following last week’s announcement of a partnership with Uber Technologies. However, the stock is currently experiencing a dip as investors reconsider the importance of this deal.
Lucid stock pulls back following big Uber deal pop
On last Thursday, it was announced that Lucid and Uber entered into a substantial robotaxi collaboration. Over the next six years, Uber plans to acquire more than 20,000 Lucid vehicles, equipping them with autonomous driving technology from Nuro. Additionally, Uber invested $300 million in Lucid. This news led to a significant increase in Lucid’s stock price, but the momentum seems to be slowing down today.
Apart from regular profit-taking in the stock market, today’s significant sell-off might also be influenced by recent remarks made by Jim Cramer on his show “Mad Money.” On air, Cramer expressed doubts about the deal and suggested that he didn’t find Lucid to be a sound investment.
What’s next for Lucid?
In terms of speculation within the electric vehicle market, it’s expected that Lucid Group’s stock will maintain its pattern of significant price fluctuations. However, contrary to Jim Cramer’s current assessment, Lucid’s collaboration with Uber might turn out to be more impactful than he implies. To put things into perspective, Lucid managed to deliver 10,241 vehicles in the previous year. The Uber deal, encompassing the delivery of 20,000 vehicles over a six-year period, is approximately twice as large as last year’s sales volume. Furthermore, having its cars integrated into Uber’s robotaxi fleet could yield positive marketing benefits for Lucid.
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2025-07-21 22:51