Why Lucid Group Stock Slumped Almost 20% in August

Shares of Lucid Group (NASDAQ: LCID) were trading at around $2 apiece on Aug. 29. As of 1:22 p.m. ET today, the electric vehicle (EV) stock is trading at about $19.13 per share.But it's not what you think. Lucid stock fell 19.5% in August and has lost another 5% so far this month, according to data provided by S&P Global Market Intelligence.You see, Lucid executed a 1-for-10 reverse stock split after market close on Aug. 29, which technically boosted its absolute share price tenfold without any change to investors' value of investment. Those investors were left feeling disappointed last month after the EV maker's latest numbers came out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool