Lucid Shares Soar With Robotaxi Plan, Stock Split: Street Wrap

Lucid jumped as much as 39%, the most intraday since January 2023, as it plans to team with Uber and self-driving tech startup Nuro to launch a robotaxi fleet. The company also intends to implement a 1-for-10 reverse stock split. Wedbush expressed skepticism about the initiative, writing that “Lucid is somewhat of broken company in public markets” and “would need even more capital to deliver on Uber’s production requests.”

• Uber stock slipped as much as 0.9%
• NOTE: Earlier this month: NYC Takes Step Toward Robotaxis With Arrival of Waymo Test Cars; Uber Traders Shrug Off Robotaxi Risks as ...