Lucid’s bankruptcy rumor is a bad sign for the EV future

Lucid Motors found itself in a tough bind this week, fending off bankruptcy rumors and watching its stock price plunge as a result. The company quickly denied the report, calling it "completely false" and pointing to its available free cash flow as evidence that it has enough runway to operate into next year. But despite the swift response, the damage was widespread. The panic immediately bled into competing automakers, pulling down shares of Rivian and Polestar as investors speculated about…