Lucid Gets Subpoenaed, but These Stocks Are the Ones That Have Really Gotten Hammered
The stock market looked poised to continue its volatile performance on Monday morning. Although some reports over the weekend have suggested that the new omicron coronavirus variant might be less severe than many had feared, investors are still trying to understand the impact it might have on the global economy. Moreover, other macroeconomic factors remain highly uncertain, and that once again seemed to affect growth-oriented stocks to a greater extent. As of 8:30 a.m. ET, futures contracts on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were down 37 points to 15,681, even as other indexes signaled a possible up opening.
Electric vehicle (EV) stocks have gotten a lot of attention in recent months, so it's not surprising that most of the premarket news centers on Lucid Group (NASDAQ: LCID) and the fact that it recently received a subpoena from the U.S. Securities and Exchange Commission. However, when you pull back and consider more than just the past few days, you'll find a group of stocks that has fared far worse. I'll reveal those stocks later in this article, but first, let's see what's happening to Lucid.
Lucid Group shares were down more than 16% in premarket trading on Monday morning. By itself, what the EV company said wasn't all that illuminating, but it raised an issue that could go well beyond just one particular company.
Source Fool.com
