Lucid Group shares are trading lower after it was announced the company will be removed from the Nasdaq-100 Index.
Portfolio Pulse from Benzinga Newsdesk
Lucid Group's stock (LCID) is trading lower following the announcement that it will be removed from the Nasdaq-100 Index, which may affect investor perception and index fund compositions.
December 11, 2023 | 1:53 pm
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NEGATIVE IMPACT
Lucid Group's removal from the Nasdaq-100 Index is likely to result in a negative short-term impact on its stock price due to reduced exposure and potential selling by index-tracking funds.
Being removed from a major index like the Nasdaq-100 typically results in less visibility among investors and can lead to selling pressure as index funds reallocate their portfolios. This often has a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100