Why Lucid Stock Is Sinking Today

Lucid (NASDAQ: LCID) stock is losing ground in Tuesday's trading. The electric vehicle (EV) company's share price was down 7.7% as of 1:15 p.m. ET, and had been down as much as 8.6% earlier in the session.

Lucid stock is retreating today following recent filings with the Securities and Exchange Commission (SEC) showing that insiders had sold company stock. The EV specialist's share price is still up 6% over the last month, but the stock is down roughly 44% across this year's trading.

Lucid submitted four filings with the SEC yesterday showing that company insiders had sold shares. Senior vice president and chief of engineering Eric Bach sold 100,815 shares on Dec. 5.The same day, vice president of accounting and internal control Gagan Dhingra sold 55,476 shares, and chief operating officer Marc Winterhoff sold 90,453 shares.

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Source Fool.com