Saudi Prince Alwaleed takes 5% Lucid (LCID) stake, stock jumps 25%

Saudi billionaire Prince Alwaleed bin Talal has disclosed a 5% stake in Lucid Group, and the market read it as a fresh vote of Saudi confidence in the cash-strapped EV maker.

Lucid (LCID) shares jumped as much as 25% on Tuesday after the filing surfaced, even though the disclosure itself is passive and mostly a technical formality.