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Lucid Group's shares surged 43 percent on Friday after it was speculated that Saudi Arabia's Public Investment Fund (PIF) wanted to buy it out.
The speculation originated from the website Betaville.
The luxury electric carmaker was the third top mover on the Nasdaq mid-afternoon.
The PIF owns more than 65 percent of Newark, California-based Lucid, which delivered 4,369 vehicles last year.
