Why Lucid Stock Couldn't Hold Its Gain Today
Lucid Group (NASDAQ: LCID) shares popped nearly 5% early Wednesday. But the stock of the luxury electric sedan maker reversed course by late morning. As of 12:20 p.m. ET, Lucid shares were actually lower by 2.1%.
The volatile moves started after U.S. Environmental Protection Agency (EPA) Administrator Michael Regan announced the proposal of new federal standards for vehicle emissions. On the surface the news seemed to be a boost for the future of electric vehicle (EV) sales in the U.S. But that optimism from EV investors faded somewhat with the details behind the proposal.
Source Fool.com
