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Shares of EV start-up Lucid tank on SEC probe

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Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021.

Andrew Kelly | Reuters

Shares of Lucid Group were down by about 17% during premarket trading Monday following the electric vehicle start-up disclosing a probe by the U.S. Securities and Exchange Commission likely into the company’s SPAC deal to go public.

The automaker said it received a subpoena on Friday from the SEC “requesting the production of certain documents related to an investigation,” according to a filing Monday morning. Lucid…



Source cnbc.com

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