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Lucid Group Shares Plunge Amid EV Tax Credit Uncertainty
Lucid Group Shares Plunge Amid EV Tax Credit Uncertainty
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Lucid Group’s stock plummeted 8.17% to $2.41, marking a 12.3% decline over five sessions as political headwinds buffet the EV sector. Trading volume surged to 237.4 million shares—more than double the 100-day average—reflecting heightened market anxiety.
The selloff coincides with House passage of legislation eliminating the $7,500 EV tax credit for high-volume manufacturers by 2025. With a 45.4% short float and analyst consensus stuck at ’Hold’, Lucid faces mounting skepticism despite no company-specific negative developments.
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