Lucid Group shares rose about 24% on Tuesday after a regulatory filing showed
Prince Alwaleed bin Talal bought roughly 19.5 million shares for $129.5 million,
lifting his stake to 5%. A spokesman said the purchase followed a recent sharp
decline in Lucid's share price. Markets viewed the investment as a confidence
vote that could ease investor concerns after earlier cash-pressure and
loss-driven bankruptcy fears; Lucid denied bankruptcy reports but confirmed it
had hired AlixPartners and previously suffered a one-day 57% plunge. The company
still faces challenges on sales growth, profitability and cash flow.
