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Lucid stock reduces losses to 16% after clarification on bankruptcy status
Lucid Group's stock jumped after the company denied reports suggesting it was filing for bankruptcy. Its losses were reduced to 16%, and the stock price rose to $4.62 after having declined by over 50% during trading. The company confirmed it has enough liquidity to fund its operations through next year and has no plans to file for bankruptcy, with support from Alex Partners to improve operational efficiency.
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