Why Lucid Stock Is Plummeting This Week

Shares of Lucid Group (NASDAQ: LCID) are down big this week amid a multitude of market pressures. The electric-vehicle (EV) stock had slid roughly 28% from last-week's market close as of 12:00 p.m. ET on Friday, according to data from S&P Global Market Intelligence.

In addition to pressures from a potential conflict between Ukraine and Russia and macroeconomic concerns including inflation and rising interest rates, growth-dependent stocks have taken a beating following concerning business updates from high-profile companies. Tesla joined this cohort with the publication of its fourth-quarter results on Wednesday, and the EV-leader's guidance spurred big sell-offs for Lucid and other electric-vehicle stocks.

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Source Fool.com