Shares of Lucid Group Inc. sank on July 14 after a news report said the electric vehicle maker is working with a restructuring advisor and considering options that include filing for bankruptcy protection or going private.
Following the report on the website for the trade publication, the stock fell as much as 55%, its worst intraday decline ever, forcing trading to be halted several times due to the volatility. E.V.
The company declined to comment on the article, saying it “has nothing to share at this time, as we do not comment on rumors or speculation.”
Shares of peer EV-maker Rivian Automotive Inc. fell as much as 3.4%.
