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Lucid Group gains after Saudi Arabia's PIF fund takes stake over 60%

Jun. 27, 2023 8:44 AM ETLucid Group, Inc. (LCID)By: Clark Schultz, SA News Editor19 Comments


Lucid Group (NASDAQ:LCID) disclosed in a SEC filing on Tuesday that the Public Investment Fund of Saudi Arabia bought 266M more shares in the company through a $1.8B private placement made by subsidiary Ayar Third Investment. The purchase was made

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Comments (19)

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Investor since ‘73 profile picture
I actually saw a Lucid on the road yesterday near Portland,OR, first ever siting!!! It was as hilariously awkward and ugly in person, the wide, flat weird momma autistic grin, bulbous roofline, out of all proportion, just like in the pictures.
Duncan20903 profile picture
@Investor since ‘73

I saw my first Rivian the day before yesterday. It was just as ugly in person as it is in its promos.
Investor since ‘73 profile picture
@Duncan20903 The Rivian front end is, like the Lucid, simply inexplicable. Who could draw them up and say “THAT’S IT, PERFECT!”??? I guess it’s like my dog licking her fanny, seemed like a good idea to her. The rest of the Rivian is ok. I have seen many of them on the road, hundreds by now but yesterday was the first Lucid sighting. Yech.
doubleE profile picture
A Saudi owned EV company. Stick a fork in it. They ‘re done
Duncan20903 profile picture

Now that's just plain silly. The Saudis can read the writing on the wall.

Mr. Gumbo profile picture
sweet, sweet arab money keeping lucid afloat
Investor since ‘73 profile picture
@Mr. Gumbo Wnd diluting current shareholders to zip.
Very slick designs though....better than Tesla
Lordstown files for bankruptcy and Lucid rips 10% today. You go figure it out.
Tdot profile picture
You don't see a difference between the two? Maybe you need to go figure that out first.
this will go private.
It is good to know that Saudi Arabia's PIF fund is willing to burn couple billions more which they don't even care.
Tdot profile picture
Well the Saudis supposedly backed out of the musky $420 deal in 2018, so maybe they are looking for a different equity stake in the EV manufacturing business. Frankly, they need to hedge their fossil fuel holdings against the future.
Can I get a notification if it has surged more than 20 cents above its 52 week low again?
Strange enough market is not reacting despite 15% short. What if they take it private. Another gme cooking?
Interesting info.
Shorting? Further squeeze? Or taking private?
Duncan20903 profile picture

What "squeeze" are you seeing? LCID all time low is 5.46 now trading at 5.85 up around ~7%.
@CynicalTexanInvestor goes low enough.......they buy it all back.

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