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Lucid Motors Shares Skyrocket 20% After Billionaire Saudi Prince Discloses $150 Million Stake
A filing shows the prince bought a little more than 19 million shares as Lucid faces a restructuring effort and repeated layoffs, the company said.
- On Tuesday, Saudi Prince Alwaleed bin Talal disclosed a 5% stake in Lucid Motors valued at more than $150 million, representing 19,513,000 Class A shares of the electric vehicle maker.
- Unlike the Public Investment Fund , which already owns roughly 60% of Lucid, this new stake comes from Alwaleed personally through his Kingdom Holding Company, a distinct investment structure.
- Following the disclosure, Lucid shares surged 20.5% to around $7.80, rebounding after the company recently dismissed bankruptcy rumors that had sent shares to a low of $2.37.
- Under newly-appointed CEO Silvio Napoli, the automaker is executing a restructuring effort that included an 18% workforce reduction in June to simplify company operations.
- Lucid reports Q2 2026 earnings on August 4, a critical test of execution as the company works to reclaim the $10 price target amid persistent financial challenges.
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Lucid Is Now Up 33% in a Month, Easily Beating Tesla and Rivian. What Will It Take to Get LCID Stock Back to $10?
A Saudi prince just bought a $129 million stake in Lucid, sparking a 25% intraday surge that left Tesla and Rivian in the dust. But with a fraud lawsuit, a looming earnings report, and a bankruptcy clock ticking, the road to $10 runs through far more than a short squeeze.
·Lakewood, United States
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Saudi Prince Alwaleed takes 5% Lucid (LCID) stake, stock jumps 25%
Saudi billionaire Prince Alwaleed bin Talal has disclosed a 5% stake in Lucid Group, and the market read it as a fresh vote of Saudi confidence in the cash-strapped EV maker. Lucid (LCID) shares jumped as much as 25% on Tuesday after the filing surfaced, even though the disclosure itself is passive and mostly a technical formality.
·Fremont, United States
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
Factuality
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