What's Going On With Lucid Group Stock Today?

Lucid Group, Inc. (NASDAQ:LCID) is making two major moves this week-one to restructure its stock and another to deepen its footprint in autonomous mobility.

Meanwhile, TD Cowen maintained a Hold rating on Lucid Group, with a price target of $2.30.

The premium EV manufacturer has submitted a preliminary proxy filing with the SEC, outlining plans for a 1-for-10 reverse stock split.

Also Read: Uber-Lucid Robotaxi Deal ‘A Forced Marriage’ By The Saudis, Says Ross Gerber, Slams It As A ‘Weak Response’ To Waymo, Tesla

The proposed change, which awaits shareholder approval, is intended to make Lucid’s Class A common stock more appealing to a wider base of investors.