Lucid Group is down 15% after disclosing SEC subpoena
Dec. 06, 2021 9:14 AM ETLucid Group, Inc. (LCID)By: Clark Schultz, SA News Editor43 Comments
- Lucid Group (NASDAQ:LCID) falls sharply after the company discloses a subpoena that indicates that the SEC may be probing elements of the company's SPAC deal.
- "The investigation appears to concern the business combination between the Company (f/k/a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements," reads the new SEC filing.
- The company says it is cooperating fully with the SEC in its review.
- Shares of Lucid Group are down 15.13% premarket to $40.09. The relative strength index on Lucid is back below 50.
- Check out Seeking Alpha's Catalyst Watch for other stocks expected to see some share price volatility this week.