Lucid Group Shares Rise Over 20% After Saudi Royal Discloses Large Stake
Shares of Lucid Group (NASDAQ: LCID) surged more than 21.5% on July 28, 2026, following a significant investment disclosure by Prince Alwaleed bin Talal bin Abdulaziz al Saud, a member of the Saudi royal family and known as the 'Arabian Warren Buffett.' The prince reported owning nearly 19.5 million shares in Lucid, valued at over $154 million with stock trading near $7.90 per share. Despite this positive development, Lucid continues to face challenges including a steep decline in its stock price—down about three-quarters from the previous year—and an operating loss of $989 million in Q1 2026 due to rising production costs and expired federal tax credits for EV purchases. Nonetheless, investors interpreted Prince Alwaleed's investment as a strong endorsement. The Motley Fool analysts caution that Lucid was not included on their list of top stock picks at the time, highlighting ongoing risks despite recent investor enthusiasm.
Topics: electric vehicles (EVs) investment signals Lucid Group Prince Alwaleed bin Talal