Lucid Group (LCID) Slides Again as $875 Million Convertible Notes Trigger Price Target Cut to $30 — What Investors Need to Know Today
Lucid Group shares fell 5.6% to $15.66 on November 13, extending a three-day slide after announcing an $875 million convertible notes deal and a Benchmark price target cut from $70 to $30. The new notes, due 2031, carry a 7% coupon and could add up to 47 million shares if converted. Investors weighed the fresh liquidity against dilution risk as the stock hovered near its 52-week low.