Quick Read – LCID surged 18% after a representative called Lucid bankruptcy rumors/reports “completely false,” with Cantor Fitzgerald confirming $3.2 billion in total liquidity runway. – RIVN jumped 4% after beating Q2 delivery guidance and raising its full-year target, while…
ER edged up 2% as Lucid’s $200 million robotaxi investor. – Polymarket prices a 31% likelihood that Lucid files for bankruptcy before 2027, with August 4 earnings being the next anticipated catalyst for cash runway and robotaxi progress updates. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Lucid didn’t make the cut. Grab the names FREE today
Shares of Lucid Group (NASDAQ:LCID) are up 18% Wednesday morning to $5.45. This is a rebound from Tuesday’s plunge when LCID stock was down approximately 16% at the close, hit an intraday low of $2.37, and was paused several times for volatility. The bounce follows Lucid’s public denial of reports it was weighing a take-private transaction or Chapter 11 filing.
As 24/7 Wall St. reported yesterday, items from EV/electric-vehicles.com and CarBuzz alleged, citing anonymous sources, that Lucid had retained turnaround advisor AlixPartners to weigh restructuring options. Lucid filed an 8-K and issued a direct on-record denial through its chief communications officer. Cantor Fitzgerald analyst Andres Sheppard reaffirmed that the automaker remains funded well into next year, giving traders an analyst-backed anchor to buy the dip.