The company clarified its relationship with AlixPartners, noting the consulting firm was retained solely to improve execution and operational efficiency. Management confirmed that AlixPartners has not recommended bankruptcy proceedings to either the board or executive leadership.
Despite the firm rebuttal, investor sentiment remained sour. Lucid shares fell 14% to $4.72 midday Tuesday, following a dip to a 52-week low of $2.37. The stock has now shed roughly 55% of its value since the start of the year.
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