Lucid Group, Inc.

LCID

On December 3, 2021, Lucid disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission requesting documents relating to the company’s business combination earlier this year with a Special Purpose Acquisition Company, Churchill Capital Corp. IV, and Atieva, Inc. and certain projections and statements. At the time it went public earlier this year, Lucid had been given a pro-forma equity value of $24 billion.

Shares of Lucid stock fell more than 15% in pre-market trading on December 6, 2021, representing a loss of more than $7.1 billion in market capitalization.

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