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Lucid (LCID) Stock Rebounds After Reverse Split and Uber Investment
Lucid (LCID) Stock Rebounds After Reverse Split and Uber Investment
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BTCCSquare news:
Lucid Motors executed a 1-for-10 reverse stock split on September 2, consolidating 3.07 billion shares into 307.3 million and reducing authorized shares from 15 billion to 1.5 billion. While such moves often signal distress, LCID shares recovered by week's end following a $300 million strategic investment from Uber.
The capital injection will fund development of Lucid's next-generation robotaxi, leveraging its Gravity SUV platform, Nuro's autonomous driving system, and Uber's fleet management. The partners plan to deploy over 20,000 autonomous electric vehicles starting in late 2026, initially targeting an unnamed U.S. city before global expansion.
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