BlackRock Is Buying Up Lucid ($LCID) Stocks Quietly
BlackRock has placed a large wager on Lucid Motors ($LCID). The investment giant is taking a sizeable stake in the electric vehicle (EV) maker. It's clear that BlackRock believes Lucid Motors shares can deliver solid returns, and they're positioning themselves to take advantage of the potential upside.
BlackRock holds 31.45 million shares of Lucid (LCID) as of Q4, with an additional 3.27 million shares acquired during the quarter. Lucid makes up a mere 0.01% of BlackRock's portfolio.
Firms such as Vanguard, Two Sigma, Huntington National Bank and Geode Capital Management also revealed increases in their stake.
At the start of this month, Lucid (NASDAQ:LCID) shares took off over speculation that Saudi Arabia’s Public Investment Fund (PIF) may acquire the company. The PIF already holds an enormous 60.66% interest in electric vehicle maker - corresponding to 1.1 billion stocks - and have previously worked together on financial investments and orders.
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Previously, Lucid's stock price plummeted 76% from its peak of $55.21 in late 2021, following the example of other tech and EV stocks which experienced a downfall due to mounting inflation and tough rate hikes from the Fed.
BlackRock (NYSE:BLK) recently reported ownership of 31.45 million shares of LCID stock as of Dec. 31, buying an additional 3.27 million shares since their last disclosure in Q3.
Lucid Rise 98% On Saudi Investment Rumour To Buy Out The Company ($LCID)
Lucid Motors, an electric vehicle (EV) manufacturer, has seen a surge in stock prices by 98% to $17.81 which later drop back 43% to $12.87, this is based on reports that Saudi Arabia's Public Investment Fund (PIF) is planning to purchase the remaining stake in the company. This news suggests that Lucid will now be owned entirely by PIF.
Rumours are swirling that Aston Martin is in discussions with both the Saudis and Lucid Motors about their plans for entering the electric vehicle market. It appears that the luxury car maker has its sights set on taking advantage of this growing industry.
Can Lucid EV Price Cut Save The Company in 2023!
Lucid is providing a generous discount of $7,500 on leased Air sedans in response to Tesla's recent price reductions.
Tesla caused a stir in the auto industry last week when their prices were slashed by as much as 21%. Tesla was able to afford this dramatic change, which others like Lucid, Rivian, Poletsar, NIO may not have the privilege of doing.
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