Lucid’s shares plunged by as much as 57% after a media report that the company was evaluating options including a potential privatisation or Chapter 11

The beleaguered electric vehicle manufacturer’s stock crashed on Tuesday after a report indicated it could be considering bankruptcy or going private.

Lucid Group stock dropped 40% after retaining restructuring firm AlixPartners, with prediction markets pricing in a 48-50% chance of bankruptcy before 2027.