Why Lucid Stock Dropped About 14% This Week
Luxury electric vehicle (EV) maker Lucid Group (NASDAQ: LCID) has been looking for ways to improve its financial health. It is in a precarious position, losing money, which has led to a declining stock price and the decision to do a reverse split of its stock.
That reverse split occurred this week, and the stock has continued to drop. As of Friday morning, Lucid shares have plunged about 14% this week, according to data provided by S&P Global Market Intelligence.
The problem isn't just the reverse stock split, though. Lucid's business could be in trouble.
Source Fool.com
