What's Happening With Lucid Stock Falling

Lucid Group Inc LCID shares are trading lower by 7.78% to $7.52 Thursday afternoon. Shares of companies in the broader consumer discretionary sector are trading lower following strong jobless claims figures, which have added to concerns over a tight labor market. A rise in Treasury yields has also weighed on the sector.

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Per the Department of Labor data release- in the week ending January 14, the advance figure for seasonally adjusted initial claims was 190,000, a decrease of 15,000 from the previous week's unrevised level of 205,000. This 190,000 figure is lower than the analyst consensus estimate of 214,000.

The Department of Labor also reported that the 4-week moving average was 206,000, a decrease of 6,500 from the previous week's unrevised average of 212,500.

According to data from Benzinga Pro, LCID has a 52-week high of $42.95 and a 52-week low of $6.09.