Saudi Prince Alwaleed discloses 5% passive stake in Lucid; stock rallies nearly 20% this week

Published Aug 1, 03:46 PM UTC

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Lucid Group (NASDAQ: LCID) stock surged nearly 20% this week, driven by news that Saudi billionaire Prince Alwaleed bin Talal Al Saud disclosed a passive 5% ownership stake in the electric vehicle maker via an SEC filing on July 28, 2026. The prince acquired 19.5 million Class A common shares during a market downturn when Lucid's market value dropped below $2 billion. Lucid's largest shareholder remains Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), which has supported the company's manufacturing facility in the Kingdom. The rally occurred ahead of Lucid's earnings report scheduled for August 4, 2026. The company is counting on its new Gravity SUV and self-driving technology to boost sales. The article also includes a disclaimer from The Motley Fool advising investors to focus on upcoming earnings rather than blindly following prominent investors.

Source

Yahoo FinanceWestern

Original headline: Why Did Lucid Stock Rally Nearly 20% This Week?

Original language: EN-US

Part of this Story

Saudi Prince Alwaleed Buys 5% Stake in Lucid Motors, Stock Surges

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