What's Going On With Lucid (LCID) Stock
Portfolio Pulse from Henry Khederian
Lucid Group Inc's shares are trading higher by 4.84% after the company announced a partnership with Aston Martin and an increase in stake by the Saudi Public Investment Fund. The fund acquired 265.7 million shares at a premium price of $6.83 per share, increasing its ownership stake to 60.49%. The partnership with Aston Martin involves Lucid supplying its electric vehicle powertrain and battery systems in contracts worth over $450 million.
June 28, 2023 | 4:47 pm
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Lucid Group's shares are trading higher due to a partnership with Aston Martin and an increased stake by the Saudi Public Investment Fund.
The partnership with Aston Martin and the increased stake by the Saudi Public Investment Fund are positive news for Lucid Group. The partnership will bring in contracts worth over $450 million, and the increased stake shows confidence in the company's future prospects. This is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100