By Al Root

Lucid stock fell sharply in midday trading on Tuesday after EV news portal electric-vehicles.com suggested the company was considering filing for bankruptcy or going private, a report the company disputes.

"The rumors are completely false," Lucid said in an emailed statement to Barron's. "The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today."

Lucid remains focused on improving operations, the company added. "AlixPartners is assisting us in that and nothing else and has not recommended bankruptcy to management or the Board. We undertake no duty to update our comments on this matter."

Electric-vehicles.com didn't immediately respond to a request for comment its report, which said both bankruptcy and a private takeout were on the table simultaneously.

Shares traded as low as $2.37 and were at $2.98 in late trading, down 46%, after trading at about $5.50 for most of the day. Trading has been halted several times.

Lucid ended the first quarter with about $700 million in cash and raised another $1 billion in April. The company has about $2 billion in undrawn term loan capacity.

That should be enough cash to get through 12 months, according to FactSet estimates.

To be sure, the EV maker isn't profitable yet, and is expected to use about $6.7 billion through the end of 2028. Wall Street projects positive free cash flow in 2029, according to FactSet.

Lucid is majority-owned by entities connected to the Saudi government, which has provided capital to the company over its life.

Write to Al Root at allen.root@dowjones.com

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(END) Dow Jones Newswires

July 14, 2026 14:31 ET (18:31 GMT)