E-car firm’s Nasdaq rise

Shares of Lucid Group rose as much as 19 percent in their Nasdaq debut Monday after the electric-vehicle maker completed its merger with a blank-check company backed by Wall Street dealmaker Michael Klein.

Lucid, which is run by an ex-Tesla engineer, had agreed to go public in February through a merger with Churchill Capital Corp. The deal gave the combined company a pro-forma equity value of $24 billion. Lucid shares were last up about 6 percent on Monday, having opened at $24.25.