Essentially, Lucid will consolidate its shares, and investors will receive one new share for every 10 of the old shares, and the price per share will multiply by 10. The value investors own is the same, and Lucid's market capitalization won't change; it'll simply boost the trading price of Lucid shares.

Uber's robotaxi deal with Lucid and Nuro isn't worrying gig worker drivers. Here's why they don't think driverless cars will replace humans.