Saudi Arabia’s sovereign Public Investment Fund held $30.9 billion worth of U.S. stocks at the end of 2022, down from $36.8 billion at the end of September, dragged down by a $6.8 billion decrease in value of electric carmaker Lucid , it said in a regulatory filing.
That was equivalent to roughly 5.6% of Lucid shares, according to calculations based on Refinitiv data. Shares of Lucid, which plans to build its first overseas factory in Saudi Arabia, were down 51% in the fourth quarter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Arabia taps petrodollar surplus to launch homegrown electric-vehicle industrySaudi Arabia\u0027s electric vehicle initiative is part of its diversification drive to wean itself off its reliance on oil income. Read on.
Source: nationalpost - 🏆 10. / 80 Read more »
Saudi Arabia taps petrodollar surplus to launch homegrown electric-vehicle industrySaudi Arabia\u0027s electric vehicle initiative is part of its diversification drive to wean itself off its reliance on oil income. Read on.
Source: financialpost - 🏆 7. / 85 Read more »
Shopify's early job cuts fuel rebound in earnings, stock price - BNN BloombergShopify Inc. was among the first technology giants to slash its workforce during last year’s market rout. Now, some investors say its stock is poised to outperform peers over the course of 2023 as those job cuts translate into lower costs, narrower losses and better cash flow.
Source: BNNBloomberg - 🏆 83. / 50 Read more »