Why Lucid Group Stock Is Sinking Today
Shares of Lucid Group (NASDAQ: LCID) are falling on Wednesday. The stock dropped 3.3% as of 12:53 p.m. but was down as much as 7% earlier today. The move comes as the S 500 and Nasdaq Composite lost 0.9% and 1.4%, respectively.
The maker of luxury electric vehicles (EVs) is taking a hit after data was released showing the economy is struggling, which is intensifying fears of a recession that could see households tighten their belts and reduce spending.
The Commerce Department reported that the U.S. economy contracted by 0.3% in the first quarter of 2025, marking the first gross domestic product (GDP) decline since the first quarter of 2022. Until recently, economists had expected 0.4% growth, but uncertainty introduced by President Donald Trump's tariffs has changed the picture.
Source Fool.com
