Lucid (NASDAQ:LCID) slump wipes out almost $1 billion, nearly equal to April funding
Lucid Group gave up around $948 million in market cap Tuesday after a report said its restructuring adviser was looking at a sale to private owners or a possible bankruptcy filing. That drop is close to 90% of the $1.05 billion capital package it announced in April, based on its last reported share count. The numbers aren’t a direct match, but they show investors moved fast to slash the value of Lucid’s new funding buffer.