CCIV Stock Price: Lucid Motors + Churchill Capital IV crypto losses should flow to meme stocks
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 Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NYSE:CCIV bounces from support as crypto weakness ongoing.
- Lucid Motors CCIV merger deal is not good news, but retail flow should help.
- Electric vehicle companies get hammered after Elon Musk’s latest Twitter outburst.
Update: CCIV shares recovered some ground on Friday as the stock failed to break key support at $17.62. Holding the line here may provide some succour for CCIV bulls. A delay in the merger date is not exactly good news for investors and neither is the continued wait for the first production vehicle.
NYSE:CCIV is on a one-way road back down to its SPAC NAV price as investors are getting impatient with the once promising electric vehicle merger. That is not to say that Lucid Motors will not one day be a fine investment, but concerns over pre-merger valuations and management being noncommittal about future vehicle deliveries has taken most of the wind out of CCIV’s sails. On Thursday, CCIV fell a further 3.1% and broke a key support level that could see the stock plummet back to its $15 PIPE price. There seems to be some support in after hours trading though as the stock is back up 2% at the time of this writing.
Stay up to speed with hot stocks' news!
CCIV and Lucid made some announcements on Thursday that have given investors some clarity over the ambiguous merger. First, the merger date for the SPAC has been moved to the third quarter of 2021 to align with the launch of its Lucid Air sedan. The company has reported over 9,000 reservations and anticipates over $800 million in sales this year. Lucid will also be providing a digital user experience update on May 26th, which should provide further clarity over the state of the company.
CCIV stock news
Lucid rival Tesla (NASDAQ:TSLA) is back in the headlines as Elon Musk managed to tank the major cryptocurrency indices overnight with one tweet. Musk reiterated on Thursday that he is very much in favor of Bitcoin, but cannot support the current methods of Bitcoin mining which he deems are harmful to the environment. The entire EV sector sold off on Thursday, led by Tesla which fell 3.09%.
- NYSE:CCIV bounces from support as crypto weakness ongoing.
- Lucid Motors CCIV merger deal is not good news, but retail flow should help.
- Electric vehicle companies get hammered after Elon Musk’s latest Twitter outburst.
Update: CCIV shares recovered some ground on Friday as the stock failed to break key support at $17.62. Holding the line here may provide some succour for CCIV bulls. A delay in the merger date is not exactly good news for investors and neither is the continued wait for the first production vehicle.
NYSE:CCIV is on a one-way road back down to its SPAC NAV price as investors are getting impatient with the once promising electric vehicle merger. That is not to say that Lucid Motors will not one day be a fine investment, but concerns over pre-merger valuations and management being noncommittal about future vehicle deliveries has taken most of the wind out of CCIV’s sails. On Thursday, CCIV fell a further 3.1% and broke a key support level that could see the stock plummet back to its $15 PIPE price. There seems to be some support in after hours trading though as the stock is back up 2% at the time of this writing.
Stay up to speed with hot stocks' news!
CCIV and Lucid made some announcements on Thursday that have given investors some clarity over the ambiguous merger. First, the merger date for the SPAC has been moved to the third quarter of 2021 to align with the launch of its Lucid Air sedan. The company has reported over 9,000 reservations and anticipates over $800 million in sales this year. Lucid will also be providing a digital user experience update on May 26th, which should provide further clarity over the state of the company.
CCIV stock news
Lucid rival Tesla (NASDAQ:TSLA) is back in the headlines as Elon Musk managed to tank the major cryptocurrency indices overnight with one tweet. Musk reiterated on Thursday that he is very much in favor of Bitcoin, but cannot support the current methods of Bitcoin mining which he deems are harmful to the environment. The entire EV sector sold off on Thursday, led by Tesla which fell 3.09%.
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.