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Anushka Dutta

DARK SECRETS: Dear lucid group stock fans mark your calendars for august 29 | Vintage Vibes

Lucid Lucid Group Stock LCID Uber

Luxury electric vehicle (EV) maker Lucid Group (LCID) has announced a 1-for-10 reverse stock split, which will take effect on Aug. 29, and the adjusted shares will begin trading on Sept. 2. The move is not being made due to any regulatory requirement. Instead, it appears to be an effort to make the company’s stock more accessible to institutional investors, as it is currently classified as a penny stock below the $5 mark. The company is also exploring a significant partnership, which could unlock another growth dimension.

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