Why Lucid Stock Soared 21.5% Today
A billionaire investor bought a sizable stake in the EV maker.
Overview
Shares of Lucid Group (NASDAQ: LCID) leaped on Tuesday after a notable investor disclosed a large position in the luxury automaker.
Image source: Getty Images.
Prince Alwaleed bin Talal bin Abdulaziz al Saud, a member of the Saudi royal family, reported ownership of 19.5 million shares of Lucid on July 28. With Lucid's stock now trading near $7.90 per share, that stake is valued at over $154 million.
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Originally published at www.fool.com.
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