Why Lucid Stock Is Falling

Lucid Group Inc LCID shares are trading lower by 5.26% to $8.65 Wednesday morning. The move lower could be in sympathy with peer electric vehicle startup Rivian Automotive after the company reported mixed fourth-quarter results. Rivian also said it sees supply chain issues continuing into 2023.

So What's Going On With Rivian?

Rivian also plans to recall 12,716 vehicles to fix an automatic locking retractor sensor in the front passenger seat, according to the National Highway Traffic Safety Administration (NHTSA).

In a statement, Rivian said the recall is limited to a "very small percentage of vehicles," impacting certain model year 2022 R1S and R1Ts. This marks Rivian's second recall in the last six months...Read More

According to data from Benzinga Pro, LCID has a 52-week high of $28.14 and a 52-week low of $6.09.