10 Stocks Drop The Most Amid Investor Caution

6. Lucid Group Inc. (NASDAQ:LCID)

Lucid Group saw its share prices decrease for a fourth straight day on Monday, dropping 9.15 percent to finish at $2.78 apiece as investors adjusted their holdings in the company ahead of its earnings release while also digesting the downgraded rating from an investment research firm.

On Monday, Redburn-Atlantic adjusted its rating for LCID to “sell” from “neutral,” while giving a steep decline in its price target to $1.13 from $3.5 previously.

According to Redburn, LCID is expected to face challenges from its competitors particularly in matching the efficiency of its vehicles before 2030.

Earlier this month, LCID announced the promotion of Emad Dlala to Senior Vice President of Powertrain, whose role in the company has been instrumental in the development and advancement of Lucid’s powertrain technology.

Dlala has been with Lucid in various technical roles since 2015 where he led efforts to develop breakthrough technologies that achieved unmatched range and performance in the Lucid Air and leading technologies in the Lucid Gravity.