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Lucid Group just did this thing. A reverse stock split. Weird, right? It's like they're playing with numbers. Share price up, fewer shares out there. Market cap? Same old story.
Their stock wasn't doing great before. Down 30% this year. Ouch. Now, instead of 3 billion shares at $2, it's 300 million at $17. Math magic.
EVs are having a rough time lately. Government stuff, you know? Lucid's financials are a mixed bag. They beat some numbers, missed others. They're adjusting, though. Kinda have to.
They've got some tricks up their sleeve. A partnership here, a robotaxi plan there. Sounds cool, doesn't it? But money's still tight. Expenses climbing, losses piling up. Not ideal.
This reverse split thing? It's not a magic wand. Lucid's still pretty pricey compared to what they're bringing in. The EV world's tough right now. Investors might want to think twice.
It seems like this split isn't going to change much for Lucid. Not right away, at least. The numbers are what they are. And the market? Well, it's not exactly rolling out the red carpet for EVs these days.