CNBC’s Mad Money host Jim Cramer said on Wednesday that electric vehicle maker Rivian is a more compelling investment than its U.S. rival Lucid Motors.
“Quick question for you, is Lucid Motors a long-term play? What do you think? Or are we just in an EV bubble?” an investor asked during Wednesday’s episode of Mad Money.
“You’re 21, you’re 21… Let’s put our money with something that is going to make a little more sense than Lucid,” Cramer replied.
“I think that if you wanted to be in that area, if you wanted to be in that kind of progressive area, you might go with Rivian. I think Rivian is better than Lucid,” he added.
Below is the segment from CNBC’s Mad Money show.
Year to date, Lucid shares are down 11%, while Rivian stock has gained nearly 20%.
Lucid, which went public via a merger with Churchill Capital Corp IV in 2021, has seen its shares plunge about 95% from its post-SPAC peak.
The stock hit an all-time low of $1.93 last November, shortly after the company announced a $1.67 billion capital raise through a public offering.
Rivian, which also listed in 2021 amid a broader EV boom, once traded near $180 per share. The stock has since declined around 90% from its high.
As of midday Thursday, Rivian and Lucid shares were both trading about 3.5% lower, at $15.80 and $2.67, respectively.
Meanwhile, institutional interest in Lucid has continued to shift. As reported earlier on Thursday, Dimensional Fund Advisors more than doubled its stake in Lucid during the first quarter of 2025.
Vanguard, Lucid’s largest shareholder, increased its holdings by 615,108 shares during the quarter, bringing its total to 110.9 million shares. UBS overtook BlackRock to become the second-largest holder, boosting its position by 33 million shares to reach 57.12 million.
Earlier this week, Lucid promoted Faisal Sultan to President of Middle East as the company prepares to enter additional markets in the region, including Qatar, “very soon.”
