Shares of Lucid Group went from $9 to a high around $17.80 before settling at $14.64 recently.
![Azure Rectangle Slope Font Parallel]()
-
Lucid Air Owner's Registry: Add Your Details Here!
Lucid stock nearly doubled today
Joined
·
514 Posts
Saudi Arabia fund takeover speculation is behind the massive spike.
seekingalpha.com
Update 2pm: Adds Lucid declined to comment on speculation.
Lucid Group (NASDAQ:LCID) soared 75% amid a report that Saudi Arabia's Public Investment Fund may be preparing to acquire the remainder of the electric vehicle maker it doesn't already own.
There's speculation that the Public Investment Fund is working on a plan to buy the remainder of Lucid (LCID), according to a Betaville "uncooked" alert. The fund may be working with JPMorgan on a possible plan to buy the remainder, though it's not clear if a formal offer will be made.
Lucid told Seeking Alpha in an email that it doesn't comment on rumors or speculation.
The PIF currently owns more than 62% of Lucid (LCID).
In November Lucid (LCID) announced Lucid announced a $600M at-the-market program, $915M investment by unit of Saudi's PIF
Morgan Stanley's well known auto analyst Adam Jonas and his team in October opined if investors fully appreciate the supportive role of the Kingdom of Saudi Arabia when valuing LCID.
"It is our working assumption that the relationship between the Kingdom of Saudi Arabia and Lucid could extend beyond a controlling shareholder status," Jonas wrote at the time.
Lucid (LCID) short interest is 25%.
Lucid stock jumps 43% amid Saudi Arabia fund takeover speculation
Lucid Group (LCID) skyrocketed 43% amid a report that Saudi Arabias Public Investment Fund may be preparing to acquire the remainder of the electric vehicle maker it doesnt own
seekingalpha.com
Update 2pm: Adds Lucid declined to comment on speculation.
Lucid Group (NASDAQ:LCID) soared 75% amid a report that Saudi Arabia's Public Investment Fund may be preparing to acquire the remainder of the electric vehicle maker it doesn't already own.
There's speculation that the Public Investment Fund is working on a plan to buy the remainder of Lucid (LCID), according to a Betaville "uncooked" alert. The fund may be working with JPMorgan on a possible plan to buy the remainder, though it's not clear if a formal offer will be made.
Lucid told Seeking Alpha in an email that it doesn't comment on rumors or speculation.
The PIF currently owns more than 62% of Lucid (LCID).
In November Lucid (LCID) announced Lucid announced a $600M at-the-market program, $915M investment by unit of Saudi's PIF
Morgan Stanley's well known auto analyst Adam Jonas and his team in October opined if investors fully appreciate the supportive role of the Kingdom of Saudi Arabia when valuing LCID.
"It is our working assumption that the relationship between the Kingdom of Saudi Arabia and Lucid could extend beyond a controlling shareholder status," Jonas wrote at the time.
Lucid (LCID) short interest is 25%.
Joined
·
434 Posts
That would be nuts if the Saudi Public Investment Fund ends up owning 100% of Lucid.
1 - 7 of 7 Posts
