These 10 Stocks Were Sold Down Today, And Here’s Why

Ten mid-cap stocks were sold down on Monday, bucking a wider market optimism, amid the lack of catalysts to spark buying appetite, while investors continued to digest the firms’ own developments affecting their businesses.

The Dow Jones rose by only 0.32 percent, while the S&P 500 and the tech-heavy Nasdaq each inched up by 0.09 percent and 0.02 percent, respectively. Meanwhile, the 10 companies booked losses as high as 5 to 16 percent.

In this article, we list the names of the worst-performing stocks and detail the reasons behind their decline.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. Lucid Group, Inc. (NASDAQ:LCID)

Lucid Group dropped its share prices by 5.63 percent on Monday to close at $2.6899 apiece amid the absence of fresh catalysts to reignite investor enthusiasm.

Earlier this month, the company reported that its net loss attributable to shareholders grew by 6.9 percent to $731 million from the $684 million registered in the same period last year.

Revenues, however, increased by 36 percent to $235 million from $172 million year-on-year.

According to the company, it is on track to ramp up vehicle production to 20,000 units per year, more than double the 9,000 units delivered last year.

In the first quarter alone, Lucid Group Inc. (NASDAQ:LCID) delivered 3,109 units, translating to $235 million in sales.

“Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well-positioned for future success,” said Lucid Group Inc. (NASDAQ:LCID) Interim CEO Marc Winterhoff.

9. Aurora Innovation, Inc. (NASDAQ:AUR)

Aurora Innovation dropped its share prices by 6.27 percent on Monday to end at $6.28 apiece as investor sentiment was dampened by its unexpected addition of human observers behind its driverless trucks.

Investors took the recent initiative negatively from a company that was widely optimistic and confident about its driverless trucks.

According to Aurora Innovation, Inc. (NASDAQ:AUR), one of its partners, PACCAR, requested human observers behind the wheel.

“PACCAR is a long-time partner and, after much consideration, we respected their request and are moving the observer, who had been riding in the back of some of our trips, from the back seat to the front seat,” it said.

Aurora Innovation, Inc. (NASDAQ:AUR) officially launched its driverless trucks in Texas earlier this month. According to the company, it began regular driverless customer deliveries between Dallas and Houston this week, completing more than 1,200 miles without a driver.