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Saudi Funding Supports Lucid Motors' Continued Growth in Tough Electric Car Market, Adds $1 Billion in Stock as Company Struggles to Find Enough Wealthy Buyers

Lucid Group Inc. (NASDAQ:LCID) is off to a rough start in 2024, with shares down more than 341 TP3 T. The good news is that, for now, Lucid can continue to count on the support of its largest investor to support its massive cash burn. A subsidiary of the Saudi Public Investment Fund (PIF) recently announced the purchase of $1 billion of Lucid's convertible preferred stock, providing Lucid with valuable capital and other investors with near-term security as the PIF continues to increase its 60% stake. New $1 billion preferred stock purchase

Amazon Breaks Lease, Cuts $1.3 Billion in Spending, Hitting Already-Battered Office Market Again

Amazon (NASDAQ:AMZN) is looking to reduce its office vacancy rate and save $1.3 billion in the process by letting leases expire, negotiating early terminations, and discontinuing the use of certain floors of its existing offices, Business Insider (BI) reported, citing a source familiar with the matter and internal documents obtained by BI. This news comes at a time when the company is in the process of saving $1.3 billion in this process. This announcement comes at a time when the commercial real estate market has been hard hit over the past few years. The commercial real estate market has been hit hard over the past few years.

"It's definitely gotten a little out of hand," the star collegiate athlete said as a surge in sports betting drove gaming stocks higher amid concerns over the scandal.

According to Goldman Sachs (NYSE:GS), the US sports betting industry has grown into a $10 billion industry. If the investment banking firm's predictions prove to be correct, the boom that followed a 2018 Supreme Court ruling legalizing sports betting in the US has already begun. Ben Andrews, director of leisure and travel research at Goldman Sachs, predicted that once the market "matures", Americans will bet $45 billion a year on the name of a person on sports.

Shares of Granite Stock ARCA Biopharmaceuticals Soar on Heel Deal: Details

ARCA Biopharmaceuticals (NASDAQ: ABIO) and Oruka Therapeutics, a privately held biotechnology company focused on the development of novel biologics for the treatment of chronic skin diseases, including plaque psoriasis, have entered into a definitive agreement to merge the two companies in an all-stock transaction. The merged entity will focus on advancing Oruka's product lines, including ORKA-001 (IL-23p19 inhibitor) and ORKA-002 (IL-17A/F inhibitor). Upon completion of the synergies, the synergized company plans to o

Why is Vendetta Pharmaceuticals Inc. stock higher today?

On Tuesday, the U.S. Food and Drug Administration (FDA) approved Vanda Pharmaceuticals Inc's (NASDAQ: VNDA) Fanapt (ipiperidone) tablets for the acute treatment of manic or mixed seizures associated with bipolar I disorder in adults, an atypical antipsychotic that has been used for the acute treatment of patients with schizophrenia since it was approved by the FDA in 2009. Fanapt is an atypical antipsychotic drug that has been used in the acute treatment of schizophrenia since it was approved by the U.S. Food and Drug Administration in 2009. Bipolar disorder is a chronic psychiatric condition that affects approximately 2.81 TP3T of U.S. adults, of which 831 TP3T are classified as severe bipolar disorder. Bipolar Disorder
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