Lucid Stock Pops 29%. Thank a Saudi Prince. -- Barrons.com

By Al Root

Lucid stock soared on Tuesday after the disclosure of a stake by a prominent investor.

Shares of the EV maker were up almost 29% at $8.38, while the S&P 500 was up 0.3%.

The catalyst appears to be the disclosure of a stake by Saudi investor Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. He reported a 19.5 million share stake on Tuesday.

Lucid didn't immediately respond to a request for comment about the stake.

Lucid is majority-owned by entities connected with the Saudi government, but the prince's stake appears to be different.

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has been labeled the Arabian Warren Buffett, reflecting his long experience and investing success. Investors are viewing the stake as a big vote of confidence in the EV start-up.

The jump still leaves shares down 25% year to date and 72% over the past 12 months.

It's been tough for money-losing EV start-ups. U.S. EV sales have stalled after the September expiration of the $7,500 federal EV purchase tax credit, and higher interest rates have made it tougher to finance operations.

Write to Al Root at allen.root@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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July 28, 2026 14:39 ET (18:39 GMT)