Lucid Motors Denies Bankruptcy Report as Investor Confidence Wavers

Shares of electric vehicle manufacturer Lucid Motors fell sharply after a report suggested the company was considering filing for Chapter 11 bankruptcy—a claim the company denied, Forbes Daily reported.

Lucid Motors rejected reports suggesting it was preparing to file for Chapter 11 bankruptcy. (Photo: Lucid Motors Facebook)

Lucid, founded by a former Tesla engineer and publicly listed since 2021, was once viewed as one of Tesla's strongest competitors. However, its share price has declined significantly in recent years.

In a separate development, a new Gallup poll found that confidence in major U.S. institutions—including the healthcare system, banks, and newspapers—remains near historic lows.

The survey found that small businesses were the only institutions to receive broad public trust across the political spectrum.