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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