Why Lucid, Fisker, and QuantumScape Stocks Dropped Today
Reports of higher-than-expected inflation this morning, combined with an apparent flood of investor dollars chasing various cryptocurrencies -- and running away from stocks -- has the stock market in a funk on Thursday. Among the stocks getting hurt most are three players in the electric car industry. Carmakers Lucid Group (NASDAQ: LCID) and Fisker (NYSE: FSR) are down 6.3% and 5.9%, respectively, through 12:05 p.m. ET, while battery maker QuantumScape (NYSE: QS) is getting off relatively easy with only a 2.5% drop.
But inflation and popular cryptocurrencies aren't the only problems facing electric vehicle (EV) stocks.
In what I think you can call a good news, bad news announcement, Lucid announced this morning that it delivered 1,734 electric cars in the fourth quarter of 2023, beating Wall Street's prediction of 1,696. That's the good news.
Source Fool.com
