Lucid Group Just Executed a 1-for-10 Reverse Stock Split. Is This the Catalyst the EV Maker Has Been Waiting for?

The electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) recently executed a 1-for-10 reverse stock split, which will artificially increase its share price and decrease its outstanding share count while keeping the company's market cap unchanged.Stock splits are typically conducted for a specific reason and usually after a big move for a stock. Prior to the reverse split, shares of Lucid were down over 31% this year. Is this the catalyst the EV maker has been waiting for to get the stock back on track?In a 1-for-10 reverse stock split, investors exchange every 10 shares they own in a company for one, bringing down the number of shares they own and raising a company's stock price.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool