On July 29, Lucid Group Inc rose 8.26% in regular trading, reaching $7.04 per share with turnover of $60.85 million, hitting an intraday high.

On the news front, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud disclosed a 5% stake in Lucid through a Schedule 13G filing. The prince holds approximately 19.5 million Class A common shares with sole voting and dispositive power over all shares. The ownership percentage was calculated based on approximately 390.3 million Class A shares outstanding as of April 29.

The disclosure comes as Lucid recovers from extreme volatility. In mid-July, the stock plunged as much as 57% on bankruptcy rumors after reports that restructuring adviser AlixPartners was evaluating strategic options. The company subsequently denied all rumors, confirming sufficient liquidity to sustain operations well into next year. Additionally, a securities fraud class action lawsuit related to Q1 delivery shortfalls has a lead plaintiff deadline of July 28.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)