A handful of small hedge funds were in a position to profit from the Reddit rally that sent shares of GameStop Corp and other out-of-favor stocks rocketing higher last month at the expense of prominent investors who had bet against the stocks, according to securities filings released Tuesday.
Luxury electric vehicle maker Lucid Motors Inc is getting close to a deal to go public at a roughly US$12-billion valuation after veteran dealmaker Michael Klein's blank-check acquisition firm launched a financing effort to back the transaction, people familiar with the matter said on Tuesday.
