Overview
- Lucid completed a 1-for-10 reverse stock split, consolidating shares to roughly 307.3 million, with split-adjusted trading beginning Sept. 2.
- LCID fell 4.6% on Sept. 2 and closed down 4.95% to $16.79 on Sept. 3, leaving the stock down more than 30% year to date.
- Stifel reiterated a Hold rating and lowered its target to $2.10 from $3.00, citing weaker-than-expected profitability and near-term EV sector headwinds.
- Following a disappointing second quarter, Lucid trimmed its 2025 production outlook to 18,000–20,000 vehicles.
- The company reported a GAAP operating loss of about $803 million on $259.4 million in Q2 revenue, underscoring ongoing profitability challenges.