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Stock impact report

Saudi Crown Prince MBS' $100 Billion Foreign Investment Quest Falters [Yahoo! Finance]

Lucid Group, Inc. (LCID) 
Company Research Source: Yahoo! Finance
Most Read from Bloomberg Kim Jong Un Faces Annihilation in Most Korea War Scenarios Apple Explores Home Robotics as Potential ‘Next Big Thing' After Car Fizzles TSMC Facilities to Resume Production Overnight After Quake A Million Simulations, One Verdict for US Economy: Debt Danger Ahead Trump Media's Business Doesn't Matter The first electric cars assembled in Saudi Arabia with Lucid Group Inc. twinkled under factory spotlights, designed to show the world how a kingdom built on oil could draw in foreign capital to become a global hub for the industries of the future. The short-term reality is more complicated. California-based Lucid is increasingly guzzling Saudi money to stay in business. Last week it got a $1 billion cash lifeline from the kingdom, on top of the $5.4 billion Saudi Arabia's Public Investment Fund (PIF) has already pumped in. Lucid, which counts the PIF as its top shareholder, had been held up as an example of foreign firms investing in Saudi Arabia' Show less Read more
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