Why Lucid Group Stock Gave Back Some Gains Today
Lucid Group stock initially surged 6% after announcing a partnership with Estonian rideshare company Bolt to deploy 25,000 autonomous Lucid EVs in Europe and the Middle East, with plans to grow to 100,000 by 2035. However, the stock gave back gains as investors questioned whether Bolt has sufficient cash to fulfill the deal, requiring $1.78 billion for the initial order and $7.1 billion for the full 100,000 vehicles—equivalent to 80 years of Bolt's current operating cash flow.