Lucid Passes Rivian in Market Cap for The First Time, But Which EV Stock Is the Better Buy For 2022?

·5 min read
Lucid Passes Rivian in Market Cap for The First Time, But Which EV Stock Is the Better Buy For 2022?

On Wednesday, Lucid Group (NASDAQ: LCID) passed Rivian Automotive (NASDAQ: RIVN) in market capitalization for the first time since Rivian went public on Nov. 10, 2021. After a further sell-off on Thursday, Lucid is now worth $5 billion more than Rivian, and share prices of Rivian are now down nearly 20% from their initial public offering price of $78 per share. In roughly two months, Rivian stock has fallen from a peak market cap of over $150 billion to less than $60 billion and is down over 60% from its all-time high.

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