BUZZ-Lucid rejects bankruptcy, take-private report as stock slumps

Lucid

Lucid

LCID

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Updates

** Shares of Lucid LCID.O tumble 41.7% to $3.21

** The Saudi-backed EV maker is reviewing strategic options, including going private or filing for Chapter 11 bankruptcy protection - Eletric-Vehicle blog

** The blog said restructuring adviser AlixPartners has urged LCID board to conduct one more round of restructuring in the United States and Europe and narrow focus onto its Gravity SUV

** Lucid denied the report, calling it "completely false" and saying it is not considering going private or filing for Chapter 11 bankruptcy protection

** AlixPartners did not immediately respond to Reuters' requests for comment

** Trading of LCID shares were halted multiple times between 1 pm and 2 pm ET

** Short interest in the stock is at 16.3% of free float- LSEG data

** Up to last close, stock had fallen ~48% so far this year


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