Why Lucid Shares Dropped Today
Shares of Lucid Group (NASDAQ: LCID) may have moved higher by more than 20% over the last month, but the future looks less bright today. The stock reversed course Monday after news came out about the company's stock listing status.
That led shares to plunge as much as 5% in early trading. Lucid stock trimmed those losses but remained down by 2.5% as of 11:15 a.m. ET. For the year, Lucid shares have dropped by more than 30%.
Today's drop came after the announcement that Lucid would be one of the six companies removed from the Nasdaq-100 index as a result of that stock index's annual changes. Other names being replaced include online marketplace eBay, solar system provider Enphase Energy, and Zoom Video Communications.
Source Fool.com
