Lucid Motors appointed Silvio Napoli as its new CEO after over a year-long search following the previous CEO's sudden resignation. Napoli, with decades of leadership experience at Schindler Group, will join Lucid's board and start once he obtains U.S. work authorization. Concurrently, Lucid secured an additional $200 million investment from Uber, increasing Uber's total commitment to $500 million and vehicle orders to 35,000 robotaxi-ready cars. The Saudi Arabian Public Investment Fund also invested $550 million more in Lucid shares. These developments come as Lucid aims to ramp up production of its Gravity SUV and launch a more affordable mid-size vehicle, positioning itself for growth despite recent workforce reductions and quality challenges.
The stock market saw significant gains driven by corporate announcements and high trading volumes, particularly in battery technology, electric vehicles, and green energy sectors. Electrovaya surged 49.05% after announcing a commercial deal with Amaz...
RBC Capital lowered Lucid Group's price target from $8 to $7, citing high fuel prices that may shift U.S. consumers toward smaller, fuel-efficient vehicles instead of EVs. Despite macroeconomic uncertainties, U.S. vehicle demand stayed strong in earl...
Payments company Stripe and private equity firm Advent International jointly offered to acquire PayPal for $60.50 per share, valuing the company at over $53 billion, a 28% premium to its recent closing price. The offer, backed by about $50 billion in...
GraniteShares announced the delisting of its 2x Long LCID Daily ETF (LCDL) from NASDAQ after the fund's net asset value (NAV) turned negative following a complete liquidation of its Lucid Group Inc. (LCID) position at a loss. This negative NAV result...
Lucid, the luxury electric vehicle maker, saw its stock drop over 50% intraday amid reports it was considering bankruptcy, restructuring, or going private. The company quickly denied these rumors, calling them completely false, which helped the stock...
