RIDE - Why Lucid Lordstown and Nikola Stocks All Dropped Today
The stocks of electric vehicle (EV) makers Lucid Group (NASDAQ: LCID) , Lordstown Motors (NASDAQ: RIDE) , and Nikola (NASDAQ: NKLA) all plunged on Monday. At the lows of the day, Lucid and Nikola stocks were down 10% and 12.9%, respectively. But Lordstown had plunged as much as 18.8% after it reported its first-quarter update today. As of 2:09 p.m. ET, Lucid and Lordstown stocks had come off those lows, and were down 7.7% and 5.5%, respectively. Nikola was trading at its low of the day, down 12.9% at that time.
The stocks were down along with other growth and technology names in the Nasdaq Composite index. And while Lordstown gave investors new information to chew on today, investors were likely still digesting the first-quarter reports from Lucid and Nikola that came late last week.
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Why Lucid, Lordstown, and Nikola Stocks All Dropped Today