Why Lucid Stock Fell 9% This Week

Shares of the electric vehicle start-up Lucid Group (LCID 4.60%) fell 9.4% this week, according to data from S&P Global Market Intelligence, as President Trump rescinded mandates for electric vehicle (EV) production in the U.S. and indicated he might eliminate tax incentives for electric vehicles.A less hospitable EV environmentEarlier this week, President Trump revoked a 2021 executive order signed by former President Biden, which set a non-legally-binding goal for 50% of all new vehicles sold in the U.S. ...