LCID just went below $8

[Constitution1st]

halted trading ?

 

[noobzilla]

Yup halted. Fun stuff!

 

[noobzilla]

Short squeeze? Damn this is painful to watch because I sold at 6.70 lol

 

[Shuasha]

So are the Saudis buying Lucid? Would this mean it then goes privately owned and LCID shareholders are paid whatever Lucid and the Saudi PIF agree upon?

Yeah, hopefully it's over $16/share (my cost average)

 

[joec]

Thus far, this is only a rumor. Let's see how it shakes out before making any further assumptions.

 

[PacificGL]

Epic short squeeze in real time.
This is going to go over $20

 

[Bunnylebowski]

Epic short squeeze in real time.
This is going to go over $20

I hope so cuz my cost basis is $19.

 

[Tim-in-CA]

I hope so cuz my cost basis is $19.

Mine’s at $20.94. Must go higher! Lol

 

[Pwmac]

I also am not happy if Saudi's take it private. My cost is 23.57.

 

[HC_79]

Damnit! I was going to put another chunk of cash in this week but thought I'd just wait to see what happens on the earnings call next month. I could've made a nice little profit!

I'm not surprised by the rumor but thought it would be later this year or next in the lead up to the Gravity launch. Given the money Lucid needs to get to that model launching and the fact that it seems the PIF is the only one that's prepared to put huge chunks of cash in it, it makes sense that they keep handing money over and want to take it private. They will no doubt make it public again if\when Lucid has proven itself to be a serious competitor in the EV space and probably don't want all this up and down media scrutiny \ noise affecting the stock price while trying to achieve that.

Good for Lucid, bad for investors. Good for owners though as it means the company isn't going anywhere for the time being.

 

[Shuasha]

Damnit! I was going to put another chunk of cash in this week but thought I'd just wait to see what happens on the earnings call next month. I could've made a nice little profit!

I'm not surprised by the rumor but thought it would be later this year or next in the lead up to the Gravity launch. Given the money Lucid needs to get to that model launching and the fact that it seems the PIF is the only one that's prepared to put huge chunks of cash in it, it makes sense that they keep handing money over and want to take it private. They will no doubt make it public again if\when Lucid has proven itself to be a serious competitor in the EV space and probably don't want all this up and down media scrutiny \ noise affecting the stock price while trying to achieve that.

Good for Lucid, bad for investors. Good for owners though as it means the company isn't going anywhere for the time being.

It's good for owners from the "company existing" perspective, but it might slow down development of some things since they don't need to reach goals to keep investors happy.

 

[Sandvinsd]

Supposedly Saudi PIF is buying the rest of Lucid. Stay tuned.

Lucid stock jumps 43% amid Saudi Arabia fund takeover speculation

Lucid Group (LCID) skyrocketed 43% amid a report that Saudi Arabias Public Investment Fund may be preparing to acquire the remainder of the electric vehicle maker it doesnt own

seekingalpha.com

 

[RichMalden]

Supposedly Saudi PIF is buying the rest of Lucid. Stay tuned.

Lucid stock jumps 43% amid Saudi Arabia fund takeover speculation

Lucid Group (LCID) skyrocketed 43% amid a report that Saudi Arabias Public Investment Fund may be preparing to acquire the remainder of the electric vehicle maker it doesnt own

seekingalpha.com

Holy crap it is up to $15 today had been floundering between $7- $9

 

[Pwmac]

Anyone hear a buyout price?

 

[RichMalden]

Anyone hear a buyout price?

I would think there are a fair number of institutional buyers that have holdings that have, so far, lost money. If the buyout doesn't make up for some of their hurting I would think there would be lawsuits. Whether there's a basis for that I have no clue.

 

[Shuasha]

Anyone hear a buyout price?

No, this is all on rumors and short sellers getting absolutely destroyed.

 

[HC_79]

LOL.... suffer!

 

[PacificGL]

The potential of Saudi takeover is going to create a backstop somewhere between $25 to $30 per share regardless of the takeover happening or not.
Shorts are now learning the hard way that manipulating and shorting the stock that is fully backed by limitless $$$ is very risky proposition.
Not too many shorts will have the risk appetite to mess with LCID going forward.

 

[Shuasha]

And now it just started tanking..

 

[joec]

And now it just started tanking..

What goes up, must come down.