Stock Market Today: Lucid Slides 8% as Reverse Split Concerns Resurface

Lucid Group (NASDAQ: LCID) dropped 8.24% to close at $2.56 on Tuesday, with the sharp decline attributed to renewed investor concerns over the electric vehicle (EV) maker's recently filed 1-for-10 reverse stock split proposal. The decline appears sentiment-driven, reflecting lingering skepticism over Lucid's capital structure and long-term path to profitability.Lucid's decline stood out against broader market weakness, as the S&P 500 fell 0.3% and the Nasdaq Composite dropped 0.4%. The stock also led EV peers lower, with Tesla (NASDAQ: TSLA) declining 1.4% to $321.20 and Rivian Automotive (NASDAQ: RIVN) falling 5.2% to $13.06. The outsized decline underscores increased scrutiny on smaller-cap, pre-profit EV manufacturers amid challenging market conditions for the sector.Trading volume of 118 million shares came in below both the 65-day average of 148 million shares. Trading at $2.56, Lucid sits 42% below its 52-week high of $4.43. The decline highlights continued pressure on the premium EV maker's valuation amid ongoing concerns about the proposed reverse stock split and dilution fears.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool