EV - Despite Having a Strong Relationship With Saudi Arabia Lucid Stock Is Falling
Lucid Group ( NASDAQ:LCID )
Following analyzing the electric vehicle manufacturer’s delivery update, Morgan Stanley provided an update on Lucid Group ( NASDAQ:LCID ). Analyst Adam Jonas predicts that Lucid stock will have fresh capital needs amounting to several billion dollars in fiscal years 23 and 24. Still, he continues to operate, assuming that the firm can obtain adequate funds to continue developing and expanding.
When pricing the Lucid stock, Jonas and his team directly questioned whether or not investors truly comprehend the supportive role that the Kingdom of Saudi Arabia plays.
“Our current thinking is based on the supposition that the relationship between the Kingdom of Saudi Arabia and Lucid might go farther than merely holding a majority stakeholder position. Our viewpoint is that the Public Investment Fund’s interest in Lucid stock symbolizes a “seat at the table” for the energy transition story, which is in line with the long-term economic and social changes of Vision 2030 in the Kingdom of Saudi Arabia (KSA).”
Morgan Stanley believes that investors ought to value the possibility of a further extension of the connection and the advantage of having long-term strategic partners with a significant amount of resources. It is anticipated that the cooperation will assist Lucid stock in co-investing and providing support for the long-term development of infrastructure and supply chains, as well as helping w...
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