Why Lucid Stock Plunged 20% in Q1 as the Nasdaq Fell 10%
After a weak Q1 performance, is it time to buy Lucid stock?
The stock market struggled in the first quarter of 2025, but investors in Lucid Group (NASDAQ: LCID) had it much worse. The electric vehicle (EV) stock plunged 19.9% in Q1, according to data provided by S&P Global Market Intelligence, versus the Nasdaq Composite's (NASDAQINDEX: ^IXIC) 10.4% drop. The S&P 500 (SNPINDEX: ^GSPC), comparatively, fared much better, falling only 4.6% in Q1 2025.
While President Donald Trump's first day in office rattled EV stocks, Lucid gave its investors several reasons one after the other throughout the first quarter to dump shares.
In Q1. Lucid launched its Gravity SUV in Canada after a U.S. launch last year. The EV maker also said it expects to more than double production in 2025 to 20,000 units. That was a hugely encouraging update coming from a company that had struggled to scale up production and deliveries for at least three years in a row.
![How to Find Low-Competition Keywords with Semrush [Super Easy]](https://static.semrush.com/blog/uploads/media/73/62/7362f16fb9e460b6d58ccc09b4a048b6/how-to-find-low-competition-keywords-sm.png)
