Why Lucid Stock Is Hitting The Brakes Thursday
Portfolio Pulse from Adam Eckert
Lucid Group announced a public offering of 173.54 million shares for $1.2 billion and a private placement of 265 million shares for $1.8 billion. The majority stockholder, Ayar Third Investment Company, will maintain 60.5% ownership. Lucid's stock price fell 13% following the announcement.
June 01, 2023 | 12:40 pm
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NEGATIVE IMPACT
Lucid Group's stock price fell 13% after announcing a public offering and private placement totaling $3 billion. Majority stockholder maintains 60.5% ownership.
The announcement of the public offering and private placement has led to a significant drop in Lucid Group's stock price. The dilution of shares and the fact that the majority stockholder will maintain a significant ownership stake may have contributed to the negative market reaction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100