Lucid Hires Restructuring Advisors to Review Operations as Stock Plummets 57% in a Day

Electric vehicle maker Lucid has hired consulting firm AlixPartners to conduct a comprehensive review of its operations. The move aims to optimize the business, reduce costs, and ensure the successful launch of a new midsize vehicle. Following the news, Lucid's stock plunged 57% in a single day—the largest drop in its history. The company subsequently issued a statement confirming its collaboration with the advisor and denying media reports suggesting it might file for bankruptcy, calling such rumors "completely false."