Lucid Group (NASDAQ: LCID) stock jumped almost 5% this morning on news of a potential expansion. The stock didn't hold on to those gains, however, and was higher by just 1.1% at 11 a.m. ET. 

The initial pop came after Reuters reported that the maker of luxury EV sedans is about to enter the large Chinese market. That Lucid wants to do business in China shouldn't be surprising. But that the move may be imminent caught investors off guard. That's because the company -- and its stock -- have been struggling recently. 

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Source Fool.com