Lucid Announces 1-For-10 Reverse Stock Split: How's The EV Stock Reacting?

1. Lucid announced a 1-for-10 reverse stock split effective Aug. 29. 2. Authorized shares will be reduced from 15 billion to 1.5 billion. 3. Lucid missed Q2 earnings estimates and cut 2025 production guidance to 18k-20k. 4. Shares are down 30% this year; slight after-hours price increase noted. 5. Production of Lucid Gravity is expected to ramp in the second half of 2023.