Previous Close | 2.9700 |
Open | 2.9400 |
Bid | 2.8400 x 7900 |
Ask | 2.8500 x 300 |
Day's Range | 2.8300 - 3.0100 |
52 Week Range | 2.5400 - 8.8700 |
Volume | |
Avg. Volume | 38,508,332 |
Market Cap | 6.553B |
Beta (5Y Monthly) | 1.05 |
PE Ratio (TTM) | N/A |
EPS (TTM) | -1.3600 |
Earnings Date | May 06, 2024 - May 10, 2024 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 3.35 |
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Shares of Lucid Group jumped Monday after the EV maker said it secured a $1 billion investment from an affiliate of the Public Investment Fund, Saudi Arabia's sovereign wealth fund. The company said Ayar Third Investment will purchase 100,000 of its series A convertible preferred shares in a private placement. The convertible preferred stock would represent about 12% of Lucid's issued and outstanding common stock.
EV makers Tesla (TSLA), Rivian (RIVN), and NIO (NIO) have all received a downgrade from Mizuho Securities to Neutral citing near-term demand and challenges with liquidity going into next year. Shares of Lucid (LCID) are jumping Monday morning after the EV maker announced a $1 billion investment from its majority stockholder, Ayar Third Investment Company, to buy newly created convertible preferred stocks. Novo Nordisk (NVO) is set to acquire Cardior Pharmaceuticals, a company that develops RNA-based therapeutics for heart disease. The deal includes a heart failure treatment in phase two of clinical development Yahoo Finance Anchors Madison Mills and Seana Smith break down the latest developments for these companies. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Nicholas Jacobino
Lucid Group, Inc. (Nasdaq: LCID; "Lucid") announced today that it has entered into an agreement with its majority stockholder, Ayar Third Investment Company ("Ayar"), an affiliate of the Public Investment Fund ("PIF"), to purchase $1.0 billion of newly created series of convertible preferred stock via private placement, subject to customary closing conditions.