Lucid stock collapsed by half in a single afternoon after reports surfaced that the EV maker hired turnaround specialists to weigh options that range from going private to a potential court filing, and now shareholders are left waiting to find out which path the Saudi-backed automaker actually chooses.

Lucid is facing an existential crossroads.The premium EV maker is reportedly weighing whether to go private or file for Chapter 11 bankruptcy protection as its restructuring adviser, AlixPartners, prepares to brief the board ahead of its next meeting,

Shares of Lucid hit a record low after reports circulated that the company is considering bankruptcy or a take-private deal as it f

The stock plunged on reports of possible bankruptcy, but Lucid officially rejected the rumors later in the day.