Lucid announces 1-for-10 reverse stock split effective August 29

NEWARK, Calif. - Lucid Group, Inc. (NASDAQ:LCID) announced Thursday it will proceed with a 1-for-10 reverse stock split following approval by its Board of Directors and stockholders. The announcement comes as the electric vehicle maker, currently valued at $6.44 billion, faces challenging market conditions with its stock down over 30% in the past six months, according to InvestingPro data.

The reverse stock split will take effect at 5:00 p.m. Eastern Time on August 29, 2025, with the company’s common stock expected to begin trading on a split-adjusted basis when markets open on September 2, 2025. The stock will continue trading under the same symbol.

The move will reduce Lucid’s outstanding shares from approximately 3.07 billion to about 307.3 million. Concurrently, the company will reduce its authorized shares from 15 billion to 1.5 billion. The par value of the common stock will remain unchanged.

Stockholders will not need to take any action to receive post-split shares, according to the company. Those owning fractional shares will receive cash payments in lieu of fractional shares.

Equiniti Trust Company, LLC is serving as the exchange agent for the reverse stock split. Stockholders holding shares through brokers or banks will have their positions automatically adjusted to reflect the split.

The reverse stock split and authorized share reduction were approved by Lucid’s stockholders at a special meeting held on August 18, 2025.

Lucid, which describes itself as focused on creating electric vehicles, assembles its vehicles at a factory in Arizona. The announcement was made in a company press release.

In other recent news, Lucid Group Inc. reported its second-quarter 2025 earnings, revealing adjusted earnings per share of ($0.28), which did not meet the estimates set by BofA Securities and Bloomberg. The company’s revenue for the quarter was $259 million, falling short of BofA’s projection of $267 million and the consensus expectation of $262 million. Despite the revenue miss, Benchmark maintained a Buy rating on Lucid stock, while Stifel reiterated a Hold rating, noting that Lucid’s revenue exceeded their estimate of $254 million due to higher average selling prices. Cantor Fitzgerald kept a Neutral rating, acknowledging Lucid’s technical advantages and an increase in Gravity daily orders.

Lucid also announced plans to showcase a new concept vehicle based on its Gravity SUV at the Pebble Beach Concours d’Elegance as part of Monterey Car Week 2025. The company will offer public demonstration drives of its Air sedan and Gravity SUV models for the first time at the event. Meanwhile, BofA Securities maintained an Underperform rating on Lucid stock, citing the company’s weak earnings performance. Lucid delivered 3,309 vehicles during the quarter, which was below Benchmark’s estimate of 3,694 units, and the company faced a negative gross margin of -105%, impacted by tariffs and inventory write-downs.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.