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Lucid Group (LCID) has announced a 1-for-10 reverse stock split effective Aug. 29, and the shares will trade on a split-adjusted basis beginning Sept. 2. The company joins the growing list of electric vehicle (EV) startups that opted for a reverse stock split. Among others, Nikola and Lordstown Motors did reverse stock splits but eventually went out of business. In this article, we’ll examine Lucid’s forecast after the reverse stock split.
