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Lucid Group (LCID) stock has whipsawed this year. While it is down nearly 60% for the year, it is up over 80% from the all-time lows that it hit on July 14, amid the bankruptcy rumors. However, the stock couldn’t hold on to the gains following Lucid's denial of those rumors and has shed nearly half of its market capitalization from the late-July highs.
Amid the recent fall, LCID has fallen below $5, which is the SEC’s threshold for penny stocks. This is not the first time the stock has done so, and it has been moving in and out of the category often.
