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Why Lucid Stock Soared 21.5% Today

TheMotleyFool

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Why Lucid Stock Soared 21.5% Today: https://g.foolcdn.com/editorial/images/881039/lcid-stock-getty-images.jpg

Shares of Lucid Group (NASDAQ: LCID) leaped on Tuesday after a notable investor disclosed a large position in the luxury automaker.

Image source: Getty Images.

Prince Alwaleed bin Talal bin Abdulaziz al Saud, a member of the Saudi royal family, reported ownership of 19.5 million shares of Lucid on July 28. With Lucid's stock now trading near $7.90 per share, that stake is valued at over $154 million.

Source Fool.com

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