Comment on Lucid Motors drops as luxury electric vehicle maker receives SEC subpoena

Lucid Motors drops as luxury electric vehicle maker receives SEC subpoena

Lucid Motors Lucid Group shares dropped Monday to a one-month low after the company said it received a subpoena from the SEC.  The SEC's investigation appears focused on the tie-up between Lucid and Atieva.  Atieva was founded as a battery technology company in 2007.  Lucid Group sharply dropped Monday after the luxury electric vehicle maker said it's received a request for information from the Securities and Exchange Commission, a move coming a few months after the company went public through a multi-billion SPAC deal. Lucid was down by 7% in afternoon trade after sliding much as 19% to $38.06, the lowest price since November 5.

 

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