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Two Sigma Investments Quadruples Stake in Lucid Group Amid EV Stock Surge
Two Sigma Investments Quadruples Stake in Lucid Group Amid EV Stock Surge
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Two Sigma Investments LP has dramatically increased its position in Lucid Group, boosting its stake by 4,320% during the fourth quarter. The hedge fund now holds 15.85 million shares worth $47.87 million in the electric vehicle maker, according to recent SEC filings.
Lucid’s stock has rallied 30% over the past month, trading at $2.77 as of latest reports. The surge comes despite ongoing challenges including cash reserve concerns and executive turnover following the recent CEO departure.
The company unveiled its Gravity SUV earlier this year after prolonged development, marking its second production model. Wall Street anticipates substantial growth ahead, with analysts projecting 73% sales growth in 2025 followed by 96% expansion in 2026.
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