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Lucid Down 29%: Bull vs. Bear

TheMotleyFool

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Lucid Down 29%: Bull vs. BearPhoto, wide shot, wide-angle lens, Bank, sunset photo at golden hour, photo by Art Wolfe: https://img.theapi.app/temp/3aa597ca-f944-4a9b-bf8d-3071f3b5a5c9.png

The Nasdaq sell-off intensified after the Federal Reserve indicated it would begin raising interest rates in March. The index fell roughly 5% between where it was before the Fed meeting (midday Wednesday) and the market close on Thursday.

The electric vehicle (EV) industry hasn't been immune to the broader market sell-off. Share prices of Lucid Group (NASDAQ: LCID) and Tesla (NASDAQ: TSLA) are down over 20% year-to-date (YTD) while share prices of another up-and-coming EV player, Rivian Automotive, are down nearly 50% YTD.

LCID data by YCharts

Source Fool.com

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