Shares of the electric vehicle start-up Lucid Group ( LCID 2.57%) fell 9.4% this week, according to data from S&P Global Market Intelligence, as President Trump rescinded mandates for electric vehicle (EV) production in the U.S. and indicated he might eliminate tax incentives for electric vehicles.

Lucid Group Inc. (NASDAQ: LCID) stock has dropped to $2.72 per share. The company went public in the summer of 2021 via a merger with a special purpose acquisition company (SPAC). On Lucid's first day of trading,

Lucid Group announces Canadian pricing for its highly anticipated Lucid Gravity SUV, with orders for the Grand Touring model opening soon.

Rivian should be gross profit positive in the fourth quarter and aims to expand its customer base. Rivian looks like a better buy, but it's important to remember that all EV stocks could be volatile for a while.