Lucid 2X Leverage ETF Wiped Out, Delisted After 55% Stock Plunge on July 14

According to GraniteShares announcement on July 17, the GraniteShares 2X Long LCID Daily ETF (LCDL) has been delisted after its net asset value turned negative following a severe market event. Lucid Motors' stock plunged 55% on July 14 after bankruptcy rumors emerged, triggering automatic liquidation of the ETF's derivatives positions under swap contract terms.

The fund, designed to track 2x daily returns of Lucid stock, saw its value collapse within hours. GraniteShares stated the NAV per share fell to negative $0.016, leaving no remaining assets for investor distribution upon final liquidation.