Why Canoo, QuantumScape, and Lucid Group Stocks Dropped Today
Monday dawned darkly for investors in stocks tied to the electric car industry, as investors in EV start-up Canoo (NASDAQ: GOEV), solid-state battery researcher QuantumScape (NYSE: QS) and luxury EV maker Lucid Group (NASDAQ: LCID) all reacted negatively to news of Tesla (NASDAQ: TSLA)'s Q1 2023 "deliveries miss."
As of 1:45 p.m. ET, Canoo shares are getting hardest hit -- down 5% -- followed by QuantumScape with a 3.7% loss and Lucid losing 3.3%.
Over the weekend, Tesla reported record numbers of both cars produced (440,808) and cars delivered (422,875) in a single quarter. The deliveries number in particular was up a strong 36% year over year. Nevertheless, Tesla fell short of analyst expectations, which had posited 432,000 deliveries for Q1.
Source Fool.com
