Lucid slides on report of going private or filing for Chapter 11 bankruptcy

Lucid

14/07/2026 19:05

** Shares of Lucid LCID.O tumble 41.7% to $3.21
** The Saudi-backed EV maker is reviewing strategic options, including going private or filing for Chapter 11 bankruptcy protection - Eletric-Vehicle blog 
** The blog says restructuring adviser AlixPartners has urged LCID board to conduct one more round of restructuring in the United States and Europe and narrow focus onto its Gravity SUV 
** LCID and AlixPartners did not immediately respond to Reuters' requests for comment
** Trading of LCID shares were halted multiple times between 1 pm and 2 pm ET
** Short interest in the stock is at 16.3% of free float- LSEG data
** Up to last close, stock had fallen ~48% so far this year

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com))