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Lucid Group (LCID) saw its stock price rise 17% this week after Saudi billionaire Prince Alwaleed disclosed a 5% stake in the company.
svmuu.com01/08/2026 12:08
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Shares of electric vehicle manufacturer Lucid Group (NASDAQ: LCID) rose 17% this week, after Saudi billionaire Prince Alwaleed bin Talal Al-Saud filed a document with the U.S. Securities and Exchange Commission (SEC) on July 28, 2026, disclosing that he passively holds a 5% stake in the company. Prince Alwaleed acquired 19.5 million shares of Class A common stock during a market downturn when Lucid’s market capitalization had fallen below $2 billion, and the news prompted a surge of investor interest in the stock.
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