Lucid Group is trading at $3.12, down 10.91%, amid a technology sell-off tied to investor concerns about AI infrastructure financing, debt, and borrowing costs.
- Reuters reported renewed tech-stock pressure from these concerns on October 16; the Nasdaq was down 2.16% and the S&P 500 was down 1.22%.
- Morgan Stanley cut its price target to $3 from $5 and maintained an Underweight rating on October 15; reporting does not establish this as the direct cause of the session’s decline.