Cantor Fitzgerald Just Upgraded Lucid (LCID) Stock

Lucid (NASDAQ:LCID) continues to receive support from Public Investment Fund (PIF) affiliate Ayar Third Investment Company, as the electric vehicle (EV) company announced this morning that the firm had agreed to provide it with $1.5 billion of capital. Lucid also reported its second-quarter earnings. $750 million of the $1.5 billion will be in the form of convertible preferred stock, while the remaining $750 million consists of an unsecured delayed draw term loan facility. As a result of the funding, Lucid ...