Lucid Group encountered a setback in Monday's trading following the announcement that the electric vehicle company would be removed from the Nasdaq 100 Index. LCID shares will continue to be listed on the Nasdaq 100 until December 18.
This decision was part of Nasdaq's annual listing adjustments revealed on Friday, which saw the addition of six new companies to the Nasdaq 100, such as DoorDash (DASH), Splunk Inc. (SPLK), and Coca-Cola Europacific Partners PLC (CCEP). Alongside Lucid, eBay (EBAY) and Zoom (ZM) were also among the six companies being removed.
This Nasdaq delisting adds to the challenges faced by LCID stock in what has been a difficult year, with its value declining by over 25% year-to-date. As of early Monday afternoon, the stock had dropped by more than 2.5%.