Lucid Soars 14% -- Was the Reverse Stock Split Just What the EV Maker Needed?
Reverse stock splits often signal financial distress; Lucid's 1-for-10 split raised share price but failed to fix production shortfalls and ongoing losses.
Lucid faces steep financial losses, weak sales, high-priced models, and intense competition, making its long-term viability in the U.S. EV market uncertain.
Uber to buy 20,000 self-driving taxis in $300m Lucid partnership
Uber has announced plans to roll out a fleet of 20,000 self-driving taxis after striking a landmark $300 million deal with electric vehicle maker Lucid Group, marking a major leap forward in its autonomous ride-hailing ambitions.