LCID, ABT, ASBP Stocks Hit 52-Week Lows Today: What’s Driving The Selloff?

• LCID slid for a third straight day after TD Cowen and Baird trimmed their price targets following recent company updates and capital raises.
• ABT dropped after cutting its 2026 EPS outlook to $5.38-$5.58 due to the impact of its $23 billion acquisition of Exact Sciences.
• ASBP slumped after shareholders approved a reverse stock split and authorized additional equity issuance tied to preferred-stock conversion and financing deals.

Shares of Lucid Group (LCID), Abbott Laboratories (ABT) and Aspire Biopharma Holdings (ASBP) dropped to fresh 52-week lows Thursday, bucking a broader market rally, as investors weighed softer growth prospects and dilution risks across the three companies.

On Thursday, LCID and ABT shares each fell about 6%, while ASBP slumped 45%.

LCID Falls As Outlook Confidence Wavers

LCID shares fell 6% on Thursday, extending their decline to a third straight session, after multiple Wall Street firms lowered price targets following recent company updates in a weaker auto market. 

Earlier this week, TD Cowen analyst Itay Michaeli cut the firm’s price target to $10 from $19 and maintained a ‘Hold’ rating, saying automakers appear better positioned than suppliers in the first quarter (Q1) to provide investors with outlook “reassurances and retaining guidance credibility.” The brokerage added that guide-down risk across the sector remains low.

Baird also lowered its price target to $12 from $14 and kept a ‘Neutral’ rating after updating its model following the appointment of a permanent CEO and expansion of Lucid’s partnership with Uber.

Investor sentiment has also remained under pressure from a recent $1.05 billion capital raise and a $300 million stock offering. The company is targeting production of 25,000 to 27,000 vehicles in 2026, but produced 5,500 vehicles and delivered 3,093 units in Q1 after deliveries were temporarily affected by a Gravity SUV seat-belt recall.

ABT Slides On Exact Sciences Impact To Bottomline

ABT shares posted their worst session in nearly three months on Thursday after the company lowered its 2026 adjusted profit outlook due to the impact of its $23 billion acquisition of Exact Sciences.

Abbott cut its full-year outlook and now expects adjusted earnings per share of $5.38 to $5.58, down from its earlier forecast of $5.55 to $5.8. Investors focused on softer organic growth trends, weakness in the nutrition segment and slower-than-expected momentum in diabetes and structural-heart devices, facing competition from Edwards Lifesciences.

Evercore ISI lowered its price target to $120 from $134, saying organic growth came in “a tad below” expectations and base organic guidance was effectively reduced by about 50 basis points.

However, Abbott said that the $23 billion acquisition of Exact Sciences is expected to contribute about $3 billion in incremental sales this year and support longer-term growth as Abbott continues to shift away from declining COVID testing revenue.

ASBP Slumps On Dilution Concerns

ASBP shares remained under pressure after stockholders approved several proposals expanding the company’s flexibility to issue additional equity and restructure its capital base.

At a special meeting earlier this month, investors approved a reverse stock split within a range of 1-for-5 to 1-for-500 and authorized the issuance of conversion shares tied to Series A preferred stock. Stockholders also approved additional equity issuance under an existing purchase agreement with Arena Business Solutions Global SPC II. A proposal to increase the authorized common shares from 490 million to 700 million was also approved.

The company separately completed a preferred-stock financing tranche, generating about $10 million in proceeds, while converting part of its outstanding debt into equity, underscoring investor concerns around dilution risk and huge funding needs.

Additionally, Aspire entered a letter of intent to acquire Dura Driver Control Systems in a $30 million deal to expand its footprint beyond drug delivery.

How Do Retail Traders Feel About LCID, ABT, ASBP?

On Stocktwits, retail sentiment for LCID and ABT was ‘extremely bullish’ amid ‘extremely high’ message volume, while sentiment for ASBP was ‘bullish’ with ‘extremely high’ message volume.

Over the past year, LCID shares have declined 67%, ABT is down 25%, and ASBP has plunged 99%.

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