Overview

• Lucid completed a 1-for-10 reverse stock split on Sept. 2, triggering a selloff followed by a five-day gain of about 5%.
• The stock remains roughly 36% lower year to date despite the brief recovery.
• Saudi Arabia’s Public Investment Fund has invested about $8 billion in Lucid, exceeding the company’s market value of just over $6 billion.
• The company has been raising cash through stock sales to fund continuing losses.
• Analysts are largely neutral, with 2 of 14 at Strong Buy and 10 at Hold, a mean target of $19.37, and a Street-high target of $30.