On July 15, Lucid Group Inc fell 16.79% in regular trading, trading at $4.57/share with turnover of $496 million. The stock hit a record intraday decline of as much as 57% before recovering, marking the largest single-day drop in company history.

The selloff was triggered by reports that Lucid has engaged restructuring advisory firm AlixPartners to conduct a comprehensive evaluation of the company's operations. Industry media reported the adviser is assessing strategic options including taking the EV maker private or filing for Chapter 11 bankruptcy protection, sparking panic selling and a volatility halt.

Lucid subsequently issued a statement confirming its collaboration with AlixPartners to optimize operational execution efficiency, but emphasized that bankruptcy rumors are \"completely false.\" The company stated it has sufficient liquidity to sustain operations well into next year, has not formed a special board committee to evaluate scenarios, and that AlixPartners has not recommended filing for bankruptcy. Notably, in April, parent company Ayar Third Investment completed a $550 million Series C convertible preferred stock purchase from Lucid.

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