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Cris Tolomia
Wed, July 15, 2026 astatine 8:43 AM CDT 2 min read
Lucid Group's banal tumbled by arsenic overmuch arsenic 40% intraday connected Tuesday, past clawed backmost a information of those losses to extremity the league down 16%, pursuing the work of a study by an electrical conveyance blog alleging the institution was exploring bankruptcy oregon a determination to spell private. Lucid called the study false.
The report, from a tract called EV, cited 2 unnamed sources who said consulting steadfast AlixPartners had recommended Lucid's committee see either Chapter 11 bankruptcy extortion oregon a privatization, according to TechCrunch. The tract besides reported that AlixPartners had advised further restructuring successful the U.S. and Europe and a sharper absorption connected the Gravity SUV.
Lucid main communications serviceman Nick Twork told TechCrunch the claims were "completely false." "The institution has capable liquidity to transportation its operations good into adjacent year, arsenic precocious published successful its past quarterly filings, and it has not formed immoderate peculiar Board committee to research the scenarios reported today," Twork said successful a statement. "AlixPartners is assisting america successful that and thing other and has not recommended bankruptcy to absorption oregon the Board." AlixPartners declined to comment.
Regulators paused trading successful Lucid shares connected respective occasions passim the league owed to excessive terms swings. The banal swung betwixt $5.76 and $2.37 connected Tuesday earlier closing astatine $4.62. Lucid banal was down an further 4.1% successful premarket trading Wednesday.
As of the extremity of March, Lucid's full disposable liquidity stood astatine astir $3.2 billion, with astir $2.5 cardinal of that consisting of indebtedness capableness it had yet to gully on, according to Barron's, citing Cantor Fitzgerald expert Andres Sheppard. The institution past secured different $1 cardinal successful April, a sum that included a $200 cardinal cheque from Uber. Sheppard wrote that the institution was "funded good into adjacent year."
The banal driblet came amid a hard play for the luxury EV maker. Lucid announced plans to chopped astir 18% of its U.S. workforce earlier this period arsenic caller CEO Silvio Napoli works to trim costs, the 2nd large circular of cuts this year. The institution besides eliminated a 2nd accumulation displacement astatine its Arizona mill and did distant with the main operating serviceman relation entirely.
Lucid's second-quarter deliveries came successful astatine 3,953 vehicles, a fig hardly up of what the institution achieved successful the comparable 4th of the anterior year. In May, Lucid pulled its full-year accumulation outlook, with Napoli citing a request to reassess strategical priorities and enactment down a backlog of vehicles sitting unsold. Lucid is scheduled to study second-quarter net connected Aug. 4.
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