What's Going On With EV-Maker Lucid's Stock?
Portfolio Pulse from Erica Kollmann
Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower on Wednesday after previously gaining due to anticipation of new tariffs on Chinese electric vehicles. President Biden announced significant tariff increases on Chinese goods, including EVs. Lucid's stock has also been influenced by a recent 'meme stock' rally. Despite the dip, the stock is up over 5% in the past five days and 18% over the past month. Analysts have mixed ratings with an average 12-month price target of $3.55.
May 15, 2024 | 5:24 pm
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Lucid Group shares are trading lower after recent gains due to new tariffs on Chinese EVs. The stock has also been influenced by a 'meme stock' rally. Despite the dip, it remains up over 5% in the past five days and 18% over the past month. Analysts have mixed ratings with an average 12-month price target of $3.55.
The stock is reacting to the new tariffs on Chinese EVs and the recent 'meme stock' rally. Despite the current dip, the stock has shown positive movement over the past month. Analysts have mixed ratings, suggesting uncertainty in the short term.
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