Lucid denies bankruptcy reports as stock swings sharply on restructuring news
Business · 17 July 2026
Written by AI from multiple news reports
Lucid Group denied reports of bankruptcy and going private on July 14, 2026, but the company also confirmed it had hired restructuring advisers. The two announcements together confused investors and caused the stock to fall 57 percent before recovering slightly.
CEO Silvio Napoli said the company has enough money to operate well into next year. Lucid held around $700 million in cash and $3.2 billion in total liquidity at the end of Q1 2026. However, that figure had dropped from $4.6 billion at the end of 2025. The company also said no special board committee had been formed to explore the options mentioned in the reports.
Lucid has relied heavily on funding from Saudi Arabia's Public Investment Fund and recently raised $1.05 billion through new stock and investment from Uber.