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There is also potential upside for Lucid's potential reverse stock split, as many companies try to push the price of their stock higher to entice big institutional investors.

A 1-for-10 reverse stock split simply means Lucid will reduce its outstanding shares by a factor of 10, essentially combining 10 old shares into one new share.

As a result of the reverse stock split, every 12 shares of common stock issued and outstanding as of the effective date will be automatically combined into one share of common stock.

What the reverse stock split means for investors Lucid's proposal is for a 1-for-10 reverse stock split. If approved, the reverse split would consolidate every 10 shares into one.

These forward-looking statements include, but are not limited to, statements regarding the Company's plans to implement the Reverse Stock Split and the expected effects of the Reverse Stock Split.

Registered stockholders holding pre-reverse split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-reverse split shares.