Lucid Stock is on the rise. Here’s what happens.

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jumped on Friday, a move attributed to unconfirmed rumors that the company could be acquired.

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(LCID) shares opened up shortly after midday Friday and nearly doubled to $17.80, before being stopped shortly before 1 p.m. It gave back some of those gains, but ended the day up 43% to $12.66. About 206.43 million shares of Lucid traded on Friday, nearly eight times the 65-day average of 26.91 million. The suspension continued throughout the afternoon, with trading halted 13 times.

Stock news aggregation site The Fly on the Wall attributed Lucid’s surge to takeover speculation from stock research blog Betaville that Saudi Arabia’s Public Investment Fund, which has invested in Lucid, will acquire the company. Lucid declined to comment. Betaville and Saudi Arabia’s Public Investment Fund did not immediately respond to a request for comment.

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