Why Rivian, Lucid, and Canoo Stocks Keep Dropping
As markets wait with bated breath for news of the next Federal Reserve interest rate hike (will it be 0.25% or 0.5%? Place your bets now!), one group of investors in particular isn't standing around and waiting to see which way the interest rate winds will blow. They're selling now and asking questions later.
I'm speaking of course about investors in electric car stocks.
As of 11:35 a.m. ET, shares of Lucid Group (NASDAQ: LCID) are down 3.2% -- making today its third straight day of losses. Likewise with Canoo (NASDAQ: GOEV), which is now down three days in a row and sinking 3.8% below water this morning. Meanwhile Rivian (NASDAQ: RIVN), which enjoyed a bit of a run-up yesterday, is off a flat 5% today.
Source Fool.com
