Lucid Stock Drops After EVs Get Hit by Rate Worries, Robotaxi Bets Struggle in Tough Market
Lucid Group shares dropped hard on Friday, hanging near session lows as a hot U.S. jobs report hit growth names. Investors sold out on worries that rates may stay high longer. Lucid shares dropped nearly 10% to $5.13 late on Nasdaq, after opening at $5.66. The stock touched a low of $5.10 during the session. Trading volume passed 21.5 million shares, higher than the stock’s average daily volume, market data showed.