Lucid Climbs 12% for a Big Second-Day Recovery as CEO Directly Rebuts Bankruptcy and Take-Private Rumors

Shares of Lucid (NASDAQ:LCID) are up 12% to $6.69 Thursday morning, extending a crisp rebound into a 2nd consecutive up day. The rally follows a idiosyncratic LinkedIn station from CEO Silvio Napoli that straight rebuts the take-private and bankruptcy reports that sent Lucid banal tumbling to $4.62 earlier this week.

Lucid shares closed Wednesday astatine $5.95, itself a crisp betterment disconnected the anterior session's plunge. Thursday's determination puts the banal backmost supra its 50-day moving mean of $5.85 for the archetypal clip since the rumor rhythm began.

This is the 3rd portion successful our bid connected the story. The July 14 study covered the archetypal take-private and Chapter 11 headlines that broke the stock, and the July 15 follow-up captured Lucid's company-level denial and an expert affirming the backing runway.

CEO Silvio Napoli Puts His Name connected the Denial

In a LinkedIn station Thursday, Napoli stated, "We mostly bash not remark connected rumors. But the claims circulated yesterday were truthful acold from the facts that they necessitate a nonstop response." He continued, "Lucid is not considering bankruptcy oregon a transaction to instrumentality the institution private. Those reports are false. The Board did not research either scenario. Period."

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