Lucid Motors VP Addresses Shareholders as Stock Hits New Lows Amid Operational Challenges Lucid Motors Vice President of Communications Nick Twork addressed shareholders on X on Thursday as the company’s stock hit a third new all-time low of the week. Shares traded as low as $6.22 during the session—equivalent to $0.622 on a pre-reverse-split basis—before closing at $6.27, leaving the California-based EV maker with a market capitalization of just $2.07 billion. The stock is down 43.3% over three months and 74.9% over the past year. Twork used the X post to reframe the past ten days as a period of operational wins rather than share-price deterioration. “Over the last 10 days, we raised approximately $1.05 billion across PIF, Uber, and a registered public offering, and expanded our DDTL with PIF to a total commitment of approximately $2.5 billion,” Twork wrote. “We deepened our Uber commitment to a minimum of 35,000 vehicles. And we named a CEO with deep experience leading complex, technology-driven organizations through periods of rapid growth and operational scaling.” Twork closed with an acknowledgment of the disconnect between recent capital raises and the share price response. “The share price will reflect that when we’ve earned it,” Twork wrote. “We know that. Now we go do the work.” Lucid Motors went public in July 2021 through a $24 billion reverse merger with Churchill Capital Corp IV, the special-purpose acquisition company led by former Citigroup Vice Chairman Michael Klein. The transaction was the largest SPAC deal ever involving an EV startup, anchored by a $2.5 billion private investment in public equity round. PIPE investors paid $15 a share—equivalent to $150 per share on a post-reverse-split basis. Thursday’s $6.27 close represents a 95.8% decline from that entry price.#lucid_motors #nick_twork #churchill_capital_corp_iv #michael_klein #pif
