Lucid Group jumps 8% to $9.75 after Betaville mention

Shares of Lucid Group moved higher after Ben Harrington’s Betaville blog speculated, according to contacts, that Saudi Arabia’s Public Investment Fund is preparing to buy out the remainder of electric vehicle maker. Sources told the blog the Public Investment Fund is working with banks to purchase the remainder of Lucid that it does not already own. Shares of Lucid Group are up 8% to $9.74 in midday trading.