LCID - Hot Stocks: LCID subpoena; Trump PIPE confirmed; GCP merger; NVDA extends slide; BABA bounce

Donald Trump and electric vehicle maker Lucid (NASDAQ:LCID) represented the major newsmakers in Monday's early trading. LCID received a subpoena from regulators. Meanwhile, the SPAC tied to the ex-president's new media business confirmed a $1B PIPE. In other news, NVIDIA (NASDAQ:NVDA) extended its recent weakness. The diminishing likelihood that the company can close its $40B ARM purchase sent the stock lower again. M&A headlines had the opposite impact on GCP Applied Technologies (NYSE:GCP). The stock posted a double-digit percentage gain after announcing a deal to be acquired. Alibaba (NYSE:BABA) looked to stabilize after its recent slide. News of a new CFO helped the stock tick up in early action. Decliners Lucid (LCID) revealed that it has received a subpoena from the U.S. Securities and Exchange Commission related to the SPAC deal with Churchill Capital that brought the EV maker public. Dragged down by the news, shares plunged nearly 13% in

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Hot Stocks: LCID subpoena; Trump PIPE confirmed; GCP merger; NVDA extends slide; BABA bounce