Lucid (LCID) stock was halted and crashed over 40% after a report said it weighed Chapter 11. Lucid denies it, citing liquidity into next year.

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.