LCID Stock News: Lucid Group Inc trades lower despite late-day rally

NASDAQ:LCID fell by 0.10% during Friday’s trading session.
Lucid fell alongside Rivian as early stage EVs were hammered.
Tesla faces another lawsuit over Elon Musk’s social media activity.

Stocks Reporter FXStreet

NASDAQ:LCID looked to be getting hammered during early intraday trading before nearly rallying into the green by the closing bell. Shares of LCID dipped by 0.10% and closed the trading week at $40.01. It was yet another bearish session for many of the market’s most popular growth names, and electric vehicle stocks in particular took it in the chin once again. The Dow Jones tumbled by 532 basis points amidst ongoing pressure from the Federal Reserve’s tapering timeline, as well as rising cases of COVID-19. The S&P 500 fell by a further 1.03%, while the tech-heavy NASDAQ also edged lower by 0.07% on Friday.

Stay up to speed with hot stocks' news!

Electric vehicle stocks were still lagging on Friday as the sector continued to get punished for disappointing earnings results from newcomer Rivian (NASDAQ:RIVN). It was not the figures itself for the quarter that were disappointing, rather a statement from the company that production numbers were falling short of estimates based on ongoing supply chain issues. Investors have no doubt applied this logic to Lucid and other early-stage EV makers, which accounts for the bearishness surrounding these stocks. Shares of Rivian continued to fall on Friday as the newly public company saw its stock fall a further 10.26%.

Lucid Motors stock price

It seems like more controversy is on the horizon for electric vehicle sector leader Tesla (NASDAQ:TSLA). A shareholder lawsuit was announced on Friday in relation to CEO Elon Musk tweeting to his followers about how many shares of Tesla he should sell. Shares of Tesla have been in free fall since Musk tweeted the poll, as the stock has lost nearly 15% of its value over the past month. Shares of Tesla were trading higher by 0.61% on Friday.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

GBP/USD flirts with weekly highs in the Fed's aftermath

GBP/USD reversed early losses following the Federal Reserve decision to keep rates on hold and neared the 1.3360 level before shedding some ground. Focus shifts to Governor Kevin Warsh's speech, while the Bank of England will announce its monetary policy decision on Thursday.

EUR/USD extends rally pass 1.1450 on Fed's Warsh

EUR/USD trades at fresh weekly highs above 1.1450, following the Federal Reserve monetary policy decision to keep interest rates on hold. The statement showed policymakers remain confident in economic progress while blaming inflation on energy prices. The divided vote among officials put in doubt a September hike, leading to sharp US Dollar losses.

Gold hovers around $4,100 as Fed decision hits the USD

Gold surged following the Federal Reserve's decision to keep the benchmark interest rate unchanged at 3.50%-3.75%. Policymakers noted that inflation remains elevated and that economic activity is expanding at a solid pace despite elevated uncertainty, spurring doubts about a rate hike in September. XAU/USD peaked above $4,100, now battling to retain the level.

No soft target: Warsh vows to return inflation to 2%

The Fed left interest rates unchanged at 3.50%-3.75%, but the decision carried a distinctly hawkish edge as three officials voted for an immediate 25-basis-point increase. Chair Kevin Warsh reinforced that message, insisting there was no tolerance for a softer inflation target and warning that the Fed would not hesitate to act.

How the CLARITY Act unlocks Wall Street’s tokenization pipeline

The United States (US) Digital Asset Market Clarity Act (CLARITY Act), awaiting a full Senate floor vote, promises to unlock Wall Street’s potential to tokenize financial assets, including equities, US Treasuries, private credit, real estate and commodities at a scale that could supercharge the real-world asset (RWA) market from the current $17 billion level to $5.5 trillion by 2030, according to

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.