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Electric Kool-Aid acid SPAC

23 Feb 2021 By Antony Currie

Ex-Citi exec Michael Klein has struck the largest ever blank-cheque merger with a deal valuing Lucid Motors at $24 bln. Investors already think it’s worth more than double that. Lucid is a decent bet on battery power but its absurd multiple outstrips all rivals, including Tesla.

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