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Lucid Group Stock Plummets Amid Reverse Split Plans and Macroeconomic Concerns
Lucid Group Stock Plummets Amid Reverse Split Plans and Macroeconomic Concerns
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BTCCSquare news:
Lucid Group (LCID) shares tumbled 17.1% this week, underperforming broader indices as the S&P 500 and Nasdaq-100 declined 2.4% and 2.2% respectively. The electric vehicle maker's planned 10-for-1 reverse stock split—typically a measure to avoid delisting—raised eyebrows despite management's insistence it aims to attract institutional investors rather than address compliance issues.
Market sentiment soured further as new Trump-era tariffs coincided with disappointing jobs data. July's 73,000 new jobs fell sharply below the 100,000 forecast, casting doubt on economic resilience. For Lucid, the selloff underscores its precarious position in a capital-intensive industry where execution risks remain elevated.
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