EV Maker Lucid’s $338,000 Loss Per Car Turns Investors Off (1)

The diverging fortunes of the two most prominent electric vehicle startups in the US show Wall Street is picking a side — and it’s not Lucid Group Inc.

Having recently touched an all-time low, the stock is down nearly 25% this year through Thursday’s close, compared to a 1% decline for pickup truck-making peer Rivian Automotive Inc. in the same period. The percentage of bullish analyst ratings on Lucid has dwindled to only about a quarter of all recommendations. For Rivian, more than half of the ratings are the equivalent of a buy.

The performances reflect deeper differences. ...