Lucid Group (LCID.O) shares plunged more than 50% intraday, triggering multiple
trading halts after 1:00 p.m. ET; they fell as much as 57% to $2.37 and were
about 15% lower near the close. The company denied a blog post saying it was
pursuing a privatization transaction or seeking U.S. Chapter 11 protection,
calling the report "completely untrue." Lucid said it has sufficient liquidity
to fund operations into next year, has not formed a special committee to
consider the scenarios in the blog, and that restructuring adviser AlixPartners
is assisting with execution and operations and has not recommended bankruptcy.
