Lucid Group shares are trading lower after the company announced a public offering of common stock, along with a corresponding investment by an affiliate of the Public Investment Fund.
Portfolio Pulse from Benzinga Newsdesk
Lucid Group shares declined following the announcement of a public offering of common stock and an investment by an affiliate of the Public Investment Fund.
October 16, 2024 | 9:33 pm
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Lucid Group's stock price fell after announcing a public offering of common stock, which can dilute existing shares, and an investment by a Public Investment Fund affiliate.
The announcement of a public offering typically leads to a decrease in stock price due to potential dilution of existing shares. The investment by a Public Investment Fund affiliate may provide some support, but the immediate market reaction is negative.
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