Lucid shares fell sharply amid rumors that the company was considering bankruptcy, though management denied the reports. The luxury electric vehicle maker also missed expectations on second quarter deliveries.
On Tuesday Lucid saw its stock become one of the market's biggest losers after rumors surfaced that the company was exploring a bankruptcy filing. Management quickly denied the claims.
The drop came alongside news that second quarter deliveries fell short of forecasts. This has raised further concerns about revenue and the company's ability to scale production.
Lucid had recently secured a one billion dollar equity raise and drawn down an eight hundred million dollar loan. Analysts noted that additional funding may still be required for the firm to operate through 2027.
