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

Core Viewpoint - Lucid Group's stock has experienced a significant decline due to investor concerns regarding its proposed 1-for-10 reverse stock split, reflecting skepticism about its capital structure and long-term profitability path [1]. Group 1: Stock Performance - Lucid Group's stock dropped 8.24% to close at $2.56, marking its lowest level in nearly a month [1]. - The stock's decline is notable against the broader market, with the S&P 500 and Nasdaq Composite falling 0.3% and 0.4%, respectively [2]. - Lucid's trading volume was 118 million shares, below the 65-day average of 148 million shares, indicating reduced investor interest [3]. Group 2: Market Context - The decline in Lucid's stock price is part of a broader trend affecting smaller-cap, pre-profit electric vehicle manufacturers amid challenging market conditions [2]. - Lucid's stock is currently 42% below its 52-week high of $4.43, highlighting ongoing pressure on its valuation [3]. - The decline in Lucid's stock price has also led to a decrease in the stock prices of its peers, including Tesla and Rivian Automotive [2].