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Why Lucid Stock Couldn't Hold Its Gain Today

TheMotleyFool

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Why Lucid Stock Couldn't Hold Its Gain TodayPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png

Lucid Group (NASDAQ: LCID) shares popped nearly 5% early Wednesday. But the stock of the luxury electric sedan maker reversed course by late morning. As of 12:20 p.m. ET, Lucid shares were actually lower by 2.1%.

The volatile moves started after U.S. Environmental Protection Agency (EPA) Administrator Michael Regan announced the proposal of new federal standards for vehicle emissions. On the surface the news seemed to be a boost for the future of electric vehicle (EV) sales in the U.S. But that optimism from EV investors faded somewhat with the details behind the proposal.

Source Fool.com

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