So Wolverine just dumped 3.5 million Lucid shares back in Q4 - we're talking like $56 million worth. That's a pretty loud signal if you ask me, especially when they still held nearly 17 million shares after the sale. Makes you wonder what the market maker sentiment really is when big money starts reducing exposure like that.

The thing that caught my eye is they're still holding Rivian as one of their top positions. Rivian's already crushing it with SUV sales compared to Lucid. Lucid just launched the Gravity to try and compete, but honestly the buy model for these EV makers looks completely different - Rivian's got the volume, Lucid's got the bleeding balance sheet and Saudi backing keeping them afloat.

Lucid's down 59% year-over-year from that Jan 2026 price point, and the company's still burning cash hard. The Gravity SUV is supposed to expand their market, but when your business model depends on one investor propping you up, it's tough to convince the market you're a real growth story. Wolverine's move feels like they're hedging their bets - maybe they still believe, but confidence is clearly wavering. Not exactly a ringing endorsement for jumping in right now.