I dabbled some earlier this year and bought around 14 shares of Lucid stock priced at around $2 each. I just got a notification that they're at about $20 now. However, looking at their current all time history. Its now saying they had never been lower than $16 but even my trade history says differently, so I know my memory isnt failing me. Is this a common thing when it comes to trading, and how does it happen where it seems it's history is erased. Im extremely confused and inexperienced.
Why is the Lucid share price significantly higher all of a sudden with no history of being $2-$3
byu/Soaplips instocks
Posted by Soaplips
8 Comments
They had a reverse split
They did a 10 to 1 reverse split, so 10 shares at $2 became 1 share at $20.
They had a 10-1 reverse stock split at the beginning of the month
They did a reverse stock split.
You exchanged 10 of your shares and consolidated them into 1 share thus making the price go up.
So if you had 100 shares at $2 (worth $200 total), after the split you have 10 shares at $20 (still worth about $200 total). The company value didn’t change, just the share count and price per unit did. Probably did this to stay on NASDAQ ($1 requirement and they probably dipped below that)
reverse split, 10:1
bro I think they really need a basic financial literacy licensing test before people can buy stocks lol. I’ve talked to maybe a dozen people who based their judgmenents on stock value off of the ticker price
They traded all their dimes for dollar bills
They had to reverse split, otherwise they risk being delisted.