EV sector is on fire today 🔥

LCID popping because they might be bought by Saudi(s). Would be great if FSR dropped great battery range numbers (info was promised for January)

https://www.benzinga.com/news/earnings/23/01/30607886/why-fisker-nio-and-nikola-stock-are-skyrocketing-alongside-lucid-and-tesla

This article captures the rise in EV stocks today between Tesla earnings and rumors around a Lucid acquisition.

Rumors were up that Saudi Arabia's sovereign wealth fund called Public Investment Fund is interested in buying Lucid.

https://www.fool.com/investing/2023/01/27/why-ev-stocks-were-on-fire-this-week/

@seancallahan I have not heard of the PIF (Public Investment Fund), but it’s interesting that a massive Saudi investment fund has been created alongside the oil market, already in their “portfolio”. There are huge amounts of capital starting to flood the EV industry and the players are lining up in all facets of the business.

Posted by: @dman1953

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@seancallahan I have not heard of the PIF (Public Investment Fund), but it’s interesting that a massive Saudi investment fund has been created alongside the oil market, already in their “portfolio”. There are huge amounts of capital starting to flood the EV industry and the players are lining up in all facets of the business.

PIF is a huge fund and have been around a long time.  They had been more behind the scene but definitely more out in the open recently.  They are involved with Musk - they were the money for Musk's "$420" offer to take Tesla private and are also investors in Twitter.  They have been investing heavily in "green" industries (almost like they foresee oil income going away) as well as entertainment/sports.   They are the majority owner of Newcastle United and started their own golf league (LIV).