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Benzinga
Benzinga
Business
Henry Khederian

Why Lucid Shares Are Falling

Lucid Group Inc (NASDAQ:LCID) shares are trading lower Wednesday. The move appears related to overall market weakness as investors react to minutes from the FOMC meeting. Minutes showed most Fed members viewed conditions for rate hikes as potentially being met relatively soon.

The 10-year Treasury yield hit an intraday high of 1.712% early Wednesday afternoon before dipping to around the 1.702% level. Overall market volatility is persistent again during Wednesday's session as investors continue to weigh omicron concerns.

See Also: Why Joe Terranova Bought Nucor Stock Today

Lucid Group is a technology and automotive company. It develops the next generation of electric vehicle (EV) technologies. It is a vertically integrated company that designs, engineers, and builds electric vehicles, EV powertrains, and battery systems in-house using our own equipment and factory.

Lucid Group has a 52-week high of $64.86 and a 52-week low of $10.00.

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