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Lucid stock pops on Q2 results, $1.5B investment

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Public Investment Fund,Josh Lipton,Sovereign Wealth Fund

Lucid (LCID) shares are soaring in after-hours trading after reporting better-than-expected second quarter revenue. The EV maker also announced it has...

) shares are soaring in after-hours trading after reporting better-than-expected second quarter revenue. The EV maker also announced it has received a $1.5 billion commitment from the Public Investment Fund, Saudi Arabia's sovereign wealth fund.Also announcing a $1.5 billion investment from the Saudi Public Investment Fund, one of its major investors.Um, so this is the second time this year that Len has gotten an infusion here.

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