Lucid Group Inc (NASDAQ:LCID) stock is trading flat on Monday afternoon following strong gains from Friday. Stifel reportedly adjusted its price target on Lucid to $21 from $2.10 to reflect the company’s recent 1-for-10 reverse stock split, while maintaining a Hold rating on the shares. Here’s what investors need to know.
See what is driving LCID stock here.
What To Know: The pullback follows a sharp rebound on Friday, where the stock surged nearly 14%. The rally was fueled by a vote of confidence from Wall Street, as Cantor Fitzgerald reiterated a Neutral rating on the stock while increasing its price target to $20 per share. This upgrade came after the stock hit a new 52-week low on Thursday.
The analyst upgrade provided a much-needed boost for investors after a difficult period for the company. Last week, Lucid had executed a 1-for-10 reverse stock split to shore up its share price. The company has been navigating a challenging market, and recently reduced its 2025 production forecast to between 18,000 and 20,000 vehicles.
Benzinga Edge Rankings: Highlighting the stock’s challenging performance, Benzinga Edge rankings show a very weak momentum score of 9.53, though it earns a more favorable value score of 63.54.
LCID Price Action: According to data from Benzinga Pro, Lucid shares closed up 0.16% at $18.44 on Monday. The stock has a 52-week high of $40.80 and a 52-week low of $15.25.
How To Buy LCID Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For Lucid Group, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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