Lucid Is Doing a 1 for 10 Reverse Stock Split. What That Means for Shares.

Lucid wants a higher stock price. The electric-vehicle start-up said it “will proceed” with a one-for-10 reverse stock split, in a Thursday evening announcement. Lucid stock closed at $2.09, flat on the day, while the and fell 0.4% and 0.3%, respectively.