LCID price: 1-for-10 reverse stock split couldn't save Lucid from sinking even more today
Briefly

LCID price: 1-for-10 reverse stock split couldn't save Lucid from sinking even more today
"In an effort to avoid being delisted on the Nasdaq stock exchange, which, like the New York Stock Exchange, requires companies to meet a minimum trading price of $1, Lucid consolidated every ten existing shares into one, cutting outstanding shares from about 3.07 billion to roughly 307.3 million. That means investors got one share for every ten they owned, reducing authorized shares from 15 billion to 1.5 billion."
"The exchange publishes a running list of all the current and upcoming reverse and regular stock splits. In addition to meeting the Nasdaq's listing requirements, a reverse split has the potential to make a company more attractive to institutional investors. However, in Lucid's case, it hasn't seemed to help the company win back investors as stock continued to fall on Tuesday. The stock is currently down over 30% year to date."
Lucid Group implemented a 1-for-10 reverse stock split, consolidating roughly 3.07 billion shares into about 307.3 million outstanding shares and cutting authorized shares from 15 billion to 1.5 billion. The move aimed to meet Nasdaq's minimum $1 trading-price requirement, which triggers a 180-day cure period after 30 consecutive trading days below threshold. Shares fell about 10% on the first trading day after the split and remain down over 30% year to date. Q2 2025 revenue totaled $259 million, missing expectations, while net loss widened to $855 million from $790 million a year earlier. The reverse split did not restore investor confidence.
Read at Fast Company
Unable to calculate read time
[
|
]