WKHS - Automotive Stocks Like Lucid And Peers Are Trading Lower On Monday - What's Going On? | Benzinga
Automotive stocks, including Canoo Inc (NASDAQ:GOEV), Lucid Group, Inc (NASDAQ:LCID), Polestar Automotive Holding UK (NASDAQ:PSNY), VinFast Auto (NASDAQ:VFS), and Workhorse Group, Inc (NASDAQ:WKHS), are trading lower Monday following China’s slower-than-expected second-quarter economic growth.
The Chinese electric vehicle stocks also traded lower on Monday.
The second-largest economy grew by 4.7% from April to June, falling short of the 5.1% forecast by analysts.
The consumer sector faces challenges as retail sales growth hit an 18-month low due to deflationary pressures leading to price cuts on cars, food, and clothing.
Slow retail sales growth, rising unemployment, and ...