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 17, 2024 | 10:49 am
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Lucid Group's stock price dropped after the company announced a public offering of common stock, which can dilute existing shares, and an investment by an affiliate of the Public Investment Fund.
The announcement of a public offering typically leads to a decrease in stock price due to potential dilution of existing shares. The investment by an affiliate of the Public Investment Fund may provide some support, but the immediate market reaction is negative.
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