Shares of Lucid Group (NASDAQ: LCID) dropped by as much as 5% Thursday morning and remain lower by 4.1% as of 10:56 a.m. ET. The drop extends a decline in the shares of the luxury electric sedan maker by almost 20% over the last month.
It may be what the company hasn't said that is pushing investors to sell Lucid shares. This week, fellow EV start-up Rivian Automotive joined legacy automakers Ford and General Motors in agreeing to adopt 's EV charging network. Those companies felt the need to partner with the EV leader and their largest competitor in order to grow a customer base for their EV offerings.
Source Fool.com