CCIV Stock Price: Lucid Motors – Churchill Capital IV extends decline as patience wears thin
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UPGRADE- NASDAQ:LCID fell a further 4.03% on Wednesday, as the electric vehicle sector trades flat.
- Investors await word of a delivery date from Lucid as the fourth quarter approaches.
- Retail investors chase Robinhood as the stock surges by 50%.
NASDAQ:LCID has seen its sentiment begin to turn negatively on social media, as investors begin to lose patience with the stock. Shares of LCID are down 14% over the past month, while other electric vehicle stocks like Tesla (NASDAQ:TSLA) are up nearly 8% in that same time period. On Wednesday, LCID fell a further 4.03% to close the trading session at $22.63. The stock is now below its key 50-day moving average, which implies that sentiment has turned bearish on the stock in the short-term. This would be reinforced if Lucid continued to fall towards its 200-day moving average, a sign that the stock is in a complete downtrend and searching for new support.
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Part of the reason investors are losing patience is that Lucid still has not confirmed a hard delivery date for its new vehicles. The company reported at its shareholder meeting that it would be delivering its vehicles at some point in the second half of 2021, but as August begins, the fourth quarter of the year is fast approaching without any word a hard date will be set.
CCIV stock news
The danger of losing the attention of retail investors is that many have a short-term outlook on stocks, particularly after the short squeezes of GameStop (NYSE:GME) and AMC (NYSE:AMC). This isn’t to say that Lucid is a meme stock, but we have already witnessed retail money pouring into new stocks like Robinhood (NASDAQ:HOOD), which surged by over 50% during Thursday's session. FOMO and momentum traders may lose patience with Lucid and set their sights on shiny new stocks.
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- NASDAQ:LCID fell a further 4.03% on Wednesday, as the electric vehicle sector trades flat.
- Investors await word of a delivery date from Lucid as the fourth quarter approaches.
- Retail investors chase Robinhood as the stock surges by 50%.
NASDAQ:LCID has seen its sentiment begin to turn negatively on social media, as investors begin to lose patience with the stock. Shares of LCID are down 14% over the past month, while other electric vehicle stocks like Tesla (NASDAQ:TSLA) are up nearly 8% in that same time period. On Wednesday, LCID fell a further 4.03% to close the trading session at $22.63. The stock is now below its key 50-day moving average, which implies that sentiment has turned bearish on the stock in the short-term. This would be reinforced if Lucid continued to fall towards its 200-day moving average, a sign that the stock is in a complete downtrend and searching for new support.
Stay up to speed with hot stocks' news!
Part of the reason investors are losing patience is that Lucid still has not confirmed a hard delivery date for its new vehicles. The company reported at its shareholder meeting that it would be delivering its vehicles at some point in the second half of 2021, but as August begins, the fourth quarter of the year is fast approaching without any word a hard date will be set.
CCIV stock news
The danger of losing the attention of retail investors is that many have a short-term outlook on stocks, particularly after the short squeezes of GameStop (NYSE:GME) and AMC (NYSE:AMC). This isn’t to say that Lucid is a meme stock, but we have already witnessed retail money pouring into new stocks like Robinhood (NASDAQ:HOOD), which surged by over 50% during Thursday's session. FOMO and momentum traders may lose patience with Lucid and set their sights on shiny new stocks.
Like this article? Help us with some feedback by answering this survey:
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