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Lucid denies bankruptcy rumors as shares hit record lows

Lucid’s stock fell more than 50% intraday before paring much of the drop after the company said the rumors were completely false.

Reported · Written up by our desk · Equities

Lucid Group denied circulating bankruptcy rumors, but the company’s stock still sank to a record low, according to MarketWatch.

In the trading session, the EV maker’s shares were down more than 50% at one point before Lucid began to pare the majority of those losses.

MarketWatch reported that the stock decline came despite Lucid stating that the rumors were completely false.

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