Overview
- Lucid remains an EV start-up with award-winning technology but lacks the production scale needed for profitability.
- The company executed a 1-for-10 reverse stock split in August 2025 that lifted the quoted share price.
- Without the split, the current price would equate to under $1 per share, a level that can risk exchange delisting.
- Management told investors in the third quarter of 2025 that cash is projected to cover operations only into the first half of 2027.
- The analysis argues that only the most aggressive investors should consider the stock while it trades below $11.