Why Lucid Stock Dropped Today
Investors were reminded of Lucid's capital-intensive business today.
Overview
Shares of luxury electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) are tanking today. Investors can thank a rival EV maker for the move. Rivian Automotive announced a capital raise, and that has investors focusing on Lucid's capital needs, too.
Lucid shares dropped as much as 10%, and remained lower by 8.6% as of 12:15 p.m. ET.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.