The stock of Lucid Motors, a manufacturer of electric cars, collapsed, falling significantly and reaching its lowest historical price at $3.62 per share yesterday, Friday, before rebounding slightly and closing the week at $3.8.
These declines come after a series of negative news that affected the company, including the difficulty of selling, and the stock continues its downward path.
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As a result of many factors and problems facing the company, Lucid’s share price fell by 70% a year ago, amid fears of recession and the price war sparked by Tesla, the leading company in the American market.
Analysts believe that continued declines in the share price may lead to financial problems for the company, and it seems that the decline in the share price to this level indicates that investors are losing confidence in the company.
The Saudi Investment Fund recently raised its stake in the electric car manufacturing company from 60% to approximately 65% of the total common shares, and there is news that the Fund wants to buy the remaining stake and acquire the entire company.
The company opened its first factory in Saudi Arabia to produce electric cars, and it is the first factory in Saudi Arabia of this type.
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2023-11-11 08:10:00
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