Overview

• Lucid executed the reverse split after Friday’s close, with split‑adjusted trading set to begin Tuesday, and executives say the move targets broader institutional access rather than delisting concerns.
• The consolidation reduces outstanding shares from about 3.07 billion to roughly 307.3 million and lowers authorized shares from 15 billion to 1.5 billion.
• Stifel maintained a Hold rating and lowered its price target to $2.10 pre‑split (equivalent to $21 post‑split), citing lighter profitability metrics and the expectation of additional capital requirements.
• Shares traded near record lows around $1.99 on Friday ahead of the split‑adjusted session following a year‑to‑date slide.
• Lucid trimmed 2025 production guidance to 18,000–20,000 vehicles, and separate reports point to Gravity assembly taking four to five weeks with roughly 1,000 SUVs observed parked at the Casa Grande site.