Lucid's Bankruptcy Bluff: What Lies Behind the EV Company's Latest Reassurance Lucid's recent denial of bankruptcy rumors has sent its stock soaring, but beneath the surface, the company's financial struggles remain a pressing concern.
Despite securing significant sovereign backing and bolstering its balance sheet with a massive capital raise in April, Lucid is still down roughly 50% versus the start of this year.
The company's decision to cut about 18% of its U. S. workforce and restructure its executive team suggests that it is indeed facing significant operational challenges.