Why Lucid Stock Skidded to a More Than 4% Loss Today

It didn't seem like many investors wanted to hop into the driver's seat with Lucid Group (NASDAQ: LCID). The maker of high-end electric vehicles (EVs) saw its share price dive by more than 4% on the day, as a reverse stock split took effect after market close, and an analyst made a bearish adjustment to his take on the company. By comparison, the S&P 500 was in better form, with a decline of only 0.6%.It's tough to be bullish on a company just before a 1-for-10 reverse stock split kicks in. As this happened late Friday afternoon, Lucid stock felt like a title best avoided. After all, reverse stock splits usually occur when a company's equity has traded consistently below minimum exchange-listing requirements. That's the case with Lucid, and it wasn't pleasant to be reminded of the situation. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool