Buying Lucid Stock on China EV Tariff News? Be Careful.

There are reasons to buy Lucid's stock, but the Biden administration's plan to hike China EV tariffs probably isn't one of them. Shares of luxury electric vehicle (EV) maker Lucid Group (LCID) moved higher on Monday, following a Wall Street Journal report that the Biden administration plans to sharply hike tariffs on Chinese-made EVs. On the surface, that's great news for American makers of EVs, including Lucid -- and it's not surprising that Lucid's stock jumped on Monday morning. But investors should note ...