Uber Investment and Reverse Split Drive Lucid’s Price Target Upward

Group 1 - Lucid Group, Inc. is recognized as one of the 10 best EV stocks to buy according to hedge funds, following a significant investment and corporate restructuring [1] - The company reported a 38% year-over-year increase in vehicle deliveries for Q2, marking its sixth consecutive quarter of record deliveries [2] - A $300 million investment from Uber Technologies, Inc. was announced, with plans to launch a Robotaxi in a major U.S. city next year [2] Group 2 - Following a 1-for-10 reverse stock split, Lucid's price target was raised from $3 to $20 by Cantor Fitzgerald, although the rating remains at Neutral [3] - The reverse split consolidated 3.07 billion outstanding shares into 307.3 million, which has positively influenced investor sentiment [3] - Institutional support is evident, with 27 hedge funds reported to hold stakes in Lucid Group [3] Group 3 - Lucid Group, Inc. was incorporated in 2007 and is focused on developing luxury electric vehicles, particularly known for the Lucid Air's exceptional range and performance [4]