Investors hesitated to back Lucid Group (NASDAQ: LCID) as the EV maker’s share price dropped over 4% due to a reverse stock split and bearish analyst outlook. The S&P 500 saw a smaller decline of 0.6%. Analyst Stephen Gengaro reduced his price target for Lucid to $2.10 per share after a reverse stock split, citing missed financial marks and reduced production guidance. Despite optimism for Lucid’s technology and upcoming products, the company will likely need more capital. The Motley Fool’s Stock Advisor team did not include Lucid Group in their top 10 stock picks.

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