One of the only reasons I have ever heard someone defend an investment in Lucid is because it has Saudi backing. The Saudi money association is a tremendous negative in my view. People will not buy Lucid cars because of this association.
Saudis have a horrible reputation. Their association with human rights violations, Russia, oppression of women, brutality even among members of their own royal family etc is horrific. Tiger Woods turned down $1 billion from the LIV golf tour for this reason.
The Saudi Kingdom is brutal. In addition, they invested in Lucid at a fraction of the price it is today. They are now insiders. I actually suspect they are guilty of propping up the price of this company. When they have to invest they will only do so if they have to do so, and prior to that, they will manipulate the price down to $1 to get a larger stake in return for their money.
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