Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower Thursday. The stock appears to be moving on continued downward momentum and has fallen nearly 12% over the last five days.
What To Know:
Shares of electric vehicle companies are being watched closely as the United Auto Workers (UAW) strike against the Big Three automakers, Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Stellantis (NYSE:STLA) continues.
Some analysts and investors believe that smaller, non-traditional automakers could benefit as the BIG Three face growing losses due to a lack of production, increased costs and delays in the transition to EV manufacturing.
Lucid Motors has captured the attention of retail investors and short-sellers alike. LCID is one of the top trending tickers on Yahoo! Finance and 17.41% of available shares are being sold short, according to data from Benzinga Pro.
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LCID Price Action: According to Benzinga Pro, Lucid Group shares are down 2.5% at $5.32 at the time of publication.
Image: Courtesy of Lucid Group, Inc.
