Traders are nonetheless fearful, as Lucid’s tumbling inventory worth clearly reveals. Deliveries of the primary batch of the Lucid Air sedan, which acquired a really spectacular 520-mile vary ranking by the EPA, acquired underway in late October. It is also been increasing its North American dealership community. However the truth that the SEC is investigating would not look good.

The company has investigated different EV startups which have gone public through SPAC offers, together with Canoo, Lordstown Motors, and, maybe, essentially the most notorious of all of them, Nikola. Nikola’s CEO and co-founder, Trevor Milton, was pressured to resign and is now dealing with potential jail time for alleged fraud.

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