Lucid Group (NASDAQ: LCID) shares surged 36.2% to $3.12 on Thursday due to a $300 million partnership with Uber Technologies (NYSE: UBER) for robotaxis and a 1-for-10 stock split. Trading volume hit 934.5 million shares, far above average. Competitors Tesla (NASDAQ: TSLA) dropped while Rivian (NASDAQ: RIVN) rose.

The market reacted strongly to Lucid’s announcements, with the stock far from its 52-week high of $4.43. The robotaxi deal could create new revenue streams, prompting a reevaluation of Lucid’s position in the EV market. Will Lucid Group be a good investment?

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Read more at Nasdaq: Stock Market Today: Lucid Surges on Uber’s $300 Million Robotaxi Deal