Rumors surfaced suggesting Lucid (LCID +13.93%) was considering bankruptcy, but the company refuted those claims.
Shares of Lucid (NASDAQ:LCID | LCID Price Prediction) are up 10% in midday trading Friday to $7.09, extending what is now a third consecutive up day for the embattled electric vehicle maker.
Shares of Lucid (NASDAQ:LCID | LCID Price Prediction) are up 12% to $6.69 Thursday morning, extending a sharp rebound into a second straight up day.
Lucid Group (LCID) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Lucid filed paperwork forcefully denying rumors of its bankruptcy. The company still finds itself in the EV "valley of death" — but says it has enough cash.
Shares of Lucid Group (NASDAQ:LCID | LCID Price Prediction) are up 18% Wednesday morning to $5.45.
Lucid Group stock is attempting to rebound today, July 15, after plunging more than 40% in the previous session. LCID rose by about 2% in premarket trading to $4.73, recovering modestly from its lowest level of the week.
RBC Capital lowered its price target on Lucid Group (NASDAQ: LCID) from $8 to $7 while maintaining a ‘Sector Perform' rating on July 13.
Lucid stock dropped more than 16% on Tuesday after a report suggested the EV maker might be considering a bankruptcy filing. The company denies the report.
EV maker's stock down more than 50% intraday, then pares the bulk of those losses after Lucid says ‘the rumors are completely false'
Lucid Motors, an electric vehicle manufacturer founded by a former Tesla engineer, went public in a blockbuster SPAC deal in 2021 in a deal that valued the company at $24 billion. The company was once billed as one of Tesla's biggest rivals, and Saudi Arabia's Public Investment Fund owns a majority stake in the company.
Lucid Motors is denying a report that it's weighing filing for Chapter 11 bankruptcy protection.