Lucid Group Trading Volume Plummets 69.77% to 8.88 Billion Ranking 116th Despite Uber Partnership

On July 18, 2025, Lucid Group (LCID) experienced a significant decline, with its trading volume dropping by 69.77% to 8.88 billion, ranking 116th in the day's stock market activity. The stock price fell by 2.56%.

Lucid Group has recently secured a strategic partnership with Uber Technologies, which plans to invest $300 million in the electric vehicle (EV) manufacturer. This investment is part of a broader agreement to develop robotaxis, with Uber also investing in Nuro, an autonomous technology startup. Nuro will equip Lucid's vehicles with self-driving capabilities, and these vehicles will be delivered to Uber as robotaxis over the next six years. This partnership positions Lucid at the center of Uber's long-term robotaxi strategy, validating its technology and manufacturing capabilities while ensuring sustained demand for over 20,000 robotaxis.

Despite the positive news, some analysts remain cautious. Bank of America reiterated its "Underperform" rating and $1 price target for Lucid, citing potential risks such as increased tariffs, deceleration in product development, and slowing demand for electric vehicles. Other Wall Street analysts also express concerns about Lucid's current valuation, with a consensus rating of "Hold" and a mean target price of $2.84, indicating a potential decline of over 15%.