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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Why Lucid, Lordstown Motors, and Canoo Stocks Dropped Today

Rich Smith, The Motley Fool
·3 min read
Why Lucid, Lordstown Motors, and Canoo Stocks Dropped Today

The EV price war is heating up -- and electric car stocks are going down. This morning, luxury EV manufacturer Lucid Group (NASDAQ: LCID) announced that for a "limited time" it will give buyers of "select configurations" of its Lucid Air electric sedan a $7,500 EV credit -- so basically a $7,500 price cut on its most expensive Lucid Air Touring and Air Grand Touring models. Shares of rival EV makers Lordstown Motors (NASDAQ: RIDE) and Canoo (NASDAQ: GOEV) are down 2.3% and 3.8%, respectively, as of 1:05 p.m. ET.

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