CCIV Stock Price: Lucid Motors – Churchill Capital IV drops further despite merger update
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NYSE:CCIV fell by 4.06% on Monday, as the broader markets whipsawed to finish strong.
- Rumors are flying around the internet that the merger with Lucid may close at the end of July.
- Rough news for another recent EV SPAC as Lordstown Motors finds itself in serious trouble.
NYSE:CCIV has regressed over the past few trading sessions, even as rumors of its much anticipated merger with Lucid Motors are hotter than ever. Shares of CCIV fell a further 4.06% on Monday to close the first trading session of the week at $24.12. CCIV continues to straddle the line between legitimate EV company and glorified meme stock, as it struggles with a hefty valuation as well as a long history of EV SPACs failing to live up to their hype.
Stay up to speed with hot stocks' news!
The latest rumor of the merger date between Lucid and CCIV comes courtesy of the recent S-4/A filing the company made to the SEC. In this document, the proposed merger date highlights July 23rd as the date when CCIV shares will officially transfer over to become shares of Lucid Motors under the ticker symbol NASDAQ:LCID. This has no effect on when Lucid will officially have vehicles on the road, although it is anticipated that production of the first 500 or so Lucid Air sedans will be on the roads by the end of 2021.
CCIV stock news
It has been a rough week for another recent EV SPAC as Lordstown Motors (NASDAQ:RIDE) officially lost its CEO and CFO on Monday after both executives resigned. This comes on the heels of Lordstown recently reporting that the company may not be financially stable enough to continue production of its Endurance pick up truck. There was also a report accusing the company of falsely relaying information about the number of preorders Lordstown has received, which is widely believed to be the reason that both key figures resigned.
- NYSE:CCIV fell by 4.06% on Monday, as the broader markets whipsawed to finish strong.
- Rumors are flying around the internet that the merger with Lucid may close at the end of July.
- Rough news for another recent EV SPAC as Lordstown Motors finds itself in serious trouble.
NYSE:CCIV has regressed over the past few trading sessions, even as rumors of its much anticipated merger with Lucid Motors are hotter than ever. Shares of CCIV fell a further 4.06% on Monday to close the first trading session of the week at $24.12. CCIV continues to straddle the line between legitimate EV company and glorified meme stock, as it struggles with a hefty valuation as well as a long history of EV SPACs failing to live up to their hype.
Stay up to speed with hot stocks' news!
The latest rumor of the merger date between Lucid and CCIV comes courtesy of the recent S-4/A filing the company made to the SEC. In this document, the proposed merger date highlights July 23rd as the date when CCIV shares will officially transfer over to become shares of Lucid Motors under the ticker symbol NASDAQ:LCID. This has no effect on when Lucid will officially have vehicles on the road, although it is anticipated that production of the first 500 or so Lucid Air sedans will be on the roads by the end of 2021.
CCIV stock news
It has been a rough week for another recent EV SPAC as Lordstown Motors (NASDAQ:RIDE) officially lost its CEO and CFO on Monday after both executives resigned. This comes on the heels of Lordstown recently reporting that the company may not be financially stable enough to continue production of its Endurance pick up truck. There was also a report accusing the company of falsely relaying information about the number of preorders Lordstown has received, which is widely believed to be the reason that both key figures resigned.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.