Lucid Group Inc. said it will carry out a 1-for-10 reverse stock split, shrinking the number of outstanding shares in an effort to boost its per-share price. The split is set to take effect after the market closes on Aug. 29, with trading on a split-adjusted basis beginning Sept. 2. The move by the electric-vehicle manufacturer follows a wave of similar actions among smaller companies striving to meet minimum listing standards or improve marketability. On the same day, China-based ride-hailing platform Quhuo Ltd. detailed a 90-for-1 reverse split as it converts each American depositary share into the equivalent of 900 ordinary shares, while SU Group Holdings Ltd. announced a capital reorganisation that includes a reverse split and share-capital increase. Another company, OP, also outlined plans for a 1-for-25 split. Reverse splits reduce the number of shares outstanding without affecting a company’s market value, typically lifting the share price proportionally. Firms often deploy the tool to avoid delisting from major exchanges or to appeal to institutional investors barred from buying penny stocks.