Stock Market Today, July 16: Lucid Group Surges on CEO's Denial of Bankruptcy and Take-Private Rumors
On July 16, 2026, the premium EV maker rebounded 8.57% after leadership fired back at speculation, keeping liquidity questions front and center for investors.
Overview
Lucid Group (NASDAQ:LCID), a luxury electric vehicle and EV technology maker, closed at $6.46, up 8.57%. CEO Silvio Napoli’s public denial of bankruptcy and take-private rumors drove the move, and investors are now watching the company’s liquidity efforts.
Trading volume reached 45.1 million shares, coming in about 116% above its three-month average of 20.9 million shares. Lucid Group IPO'd in 2020 and has fallen 93% since going public.
The S&P 500 (SNPINDEX:^GSPC) closed at 7,534, down 0.51%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 25,882, down 1.47%. Among electric vehicle manufacturing and EV technology peers, Rivian Automotive (NASDAQ:RIVN) closed at $17.09, down 3.99%, and Tesla (NASDAQ:TSLA) closed at $391.06, down 0.86%, underscoring a softer tape for the group.
Details
The wild ride for Lucid stock this week began on Tuesday when a publication covering EVs reported that a consulting firm hired by Lucid management was advising the company on the possibility of filing Chapter 11 bankruptcy protection or being taken private.
Source
Originally published at www.fool.com.