Why These 2 Fan-Favorite Nasdaq Stocks Are Dropping Right Now
Investors have waited for signs that inflation was cooling off, and the latest report from the Bureau of Labor Statistics made the best case available for slowing price increases in the U.S. economy. The Nasdaq Composite (NASDAQINDEX: ^IXIC) responded by jumping 1% early Wednesday afternoon, building on positive momentum that has stemmed from excitement about emergent technology.
Yet even some of the favorite stocks among ordinary investors suffered on Wednesday. Lucid Group (NASDAQ: LCID) and Palo Alto Networks (NASDAQ: PANW) have been popular among investors seeking to participate in the most promising trends in the stock market, but both stocks took a tumble on lackluster news. Read on to learn more about what's happening with these two companies and what the future could bring.
Shares of Lucid Group fell 12% in early afternoon trading on Wednesday. The electric vehicle (EV) manufacturer released its production and delivery numbers for the second quarter of 2023, and they fell short of what most investors had hoped to see.
Source Fool.com
