Lucid Motors Gets Past Its Reverse Stock Split Selloff: Can LCID Still Go Higher?

Lucid Motors (LCID) reverse split its stock on Sept. 2, and the event wasn’t positive for the investors, as LCID stock expectedly fell after the event. While it is usual for stocks to fall on a reverse stock split, the severity of the sell-off took me by surprise.

However, LCID stock has gained 5% over the last five days and is now trading near the adjusted price level it traded a day before the reverse split. That’s a small consolation for investors, as the stock is still down 36% for the year. As for the stock’s long-term performance, the less said, the better, as, like fellow startup electric vehicle (EV) companies, it trades at a tiny fraction of the all-time highs.