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5 Top Stock Decliners Monday as Omicron Outlook Improves

Stocks traded higher after investors learnt that omicron causes lower-than-expected illness.

Stocks were rising Monday as reports of coronavirus variant omicron related illness being less severe emerged.

Here are some companies that were hit on Monday.

1. Lucid LCID | Down 6%

Shares of Lucid  (LCID) - Get Lucid Group, Inc. Report fell after the luxury-electric-car maker said it received a subpoena from the U.S. Securities and Exchange Commission linked to a probe into its July merger with Churchill Capital.

2. Moderna MRNA | Down 15%

Shares of drugmaker Moderna  (MRNA) - Get Moderna, Inc. Report sank Monday after its President Stephen Hoge told leading news broadcaster ABC, Sunday, that there is a “real risk that we’re going to see a decrease in effectiveness of the vaccines” due to the potent omicron variant.

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3. BuzzFeed BZFD | Down 6%

Shares of BuzzFeed  (BZFD) - Get BuzzFeed Report came under pressure on its first day of trading on the tech heavy Nasdaq. The news publisher ran into funding issues with its special-purpose acquisition company last week and raised only $16.2 million via its SPAC merger partner, 890 5th Avenue Partners, compared with the $288 million it had hoped to raise.

4. Chewy CHWY | Down 5.15%

Shares of Chewy  (CHWY) - Get Chewy, Inc. Class A Report traded lower after analysts at Wedbush downgraded the stock to neutral from outperform due to disappointing outlook for net active customer growth numbers and margin pressures.

5. Nvidia NVDA | Down 3.35%

Shares of chipmaker Nvidia  (NVDA) - Get NVIDIA Corporation Report slipped after the Federal Trade Commission last week challenged its $40 billion takeover of U.K. chip-design company Arm, citing what it said might become anticompetitive behavior.