Electric vehicle maker Lucid Group (NASDAQ: LCID) is about to execute a reverse stock split, in which it will exchange 10 of its existing shares for one new share. The expectation is that the new shares will trade at 10 times the old shares’ price, as they will represent the same ownership stake in the company.
Lucid’s planned reverse split will take effect after the market closes on Friday. Here are the details, a look at why Lucid is doing this, and some thoughts on the big question: Will be this be a bullish catalyst for the long-suffering electric vehicle stock?
Lucid is currently scaling up production of its Gravity luxury SUV. It expects sales volumes to jump in the second half of 2025. Image source: Lucid Group.