Why Lucid Stock Is Falling Today
Shares of the electric vehicle maker Lucid Group (NASDAQ: LCID) were sliding today on no company-specific news. Instead, investors were likely reacting to the broad market indexes, which were declining on renewed fears that the Federal Reserve will continue hiking interest rates to fight inflation.
The EV stock was down by 7.2% as of 3:56 p.m. ET.
After some initial optimism last week, investors once again returned to their pessimism about the market as they considered recent comments made by Federal Reserve Chair Jerome Powell.
Source Fool.com
