Overview

• The reverse stock split took effect after Friday’s market close, and Lucid began split-adjusted trading on Tuesday.
• Outstanding shares dropped from about 3.07 billion to roughly 307.3 million, with authorized shares reduced from 15 billion to 1.5 billion.
• Shares fell on the first split-adjusted session and set a new low near $17.36, extending a year-to-date decline of over 30% and leaving the stock down about 97% from its 2021 peak.
• Recent results showed Q2 revenue of $259 million and a net loss of $855 million, and the company trimmed its 2025 production target to 18,000–20,000 vehicles.
• Leadership remains unsettled after Peter Rawlinson’s departure, with Marc Winterhoff serving as interim CEO, even as backers such as PIF and a $300 million Uber deal have not restored investor confidence.