Overview

• The reverse split takes effect after Friday’s close, with split‑adjusted trading set for Tuesday, September 2.
• Stifel maintained a Hold rating and lowered its price target about 30% to $2.10 pre‑split, equivalent to $21 post‑split.
• Lucid shares traded near an all‑time low around $1.99 ahead of the change, extending recent declines.
• Earlier this month the company trimmed its 2025 production outlook to 18,000–20,000 vehicles, citing market volatility and industry headwinds.
• Stifel praised Lucid’s technology but said it expects the company will need additional capital and wants clarity on Gravity sales and the midsize rollout.