Churchill Capital Corp IV (CCIV Stock) Price and News: Shares lower on merger fatigue
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 dropped by 7% in early trade on Thursday.
- Investors had hoped for more news on Lucid merger.
- Merger talks may yet lead to something but longer timeframe.
Update February 4: Shares in CCIV continue to suffer in early trade on Thursday. Shares are currently trading at $27.87 down nearly 6%. CCIV investors were left dissapointed on Wednesday as the Wall Street Journal had dashed hopes of a quick merger with Lucid Motors.
NYSE:CCIV has finally slowed down after being one of the most popular SPAC targets for investors looking to get in on the ground floor of the up and coming Lucid Motors. That momentum came to a screeching halt on Wednesday as the stock dropped by 8.25% to close the trading session at $29.49. Shares made a slight recovery near the closing bell after dropping to $27.58 before some investors jumped in at the discounted price.
The catalyst for the drop in price was a Wall Street Journal report that the highly anticipated merger between Churchill Capital and upstart electric vehicle maker Lucid Motors is not at all imminent. Investors have been piling into the SPAC stock since early January, where the initial rumors of a merger with Lucid were reported. Lucid is widely viewed as a luxury electric vehicle brand that has a chance to disrupt industry leader Tesla’s (NASDAQ:TSLA) stranglehold on the market. With a manufacturing plant in Arizona nearly ready to start production of its Lucid Air sedan, many investors believed that CCIV would be a chance to get the next parabolic electric vehicle stock at a discount.
CCIV stock forecast
But is CCIV trading at a discount? It is currently one of the highest price SPAC stocks on the market – higher even than Chamath Palihapitiya’s IPOD, IPOE, and IPOF companies. The proposed Lucid merger has already been baked into the high price, so investors who want to get in may want to wait, as the stock should continue to decline the longer it goes without an announcement for a merger.
- NYSE:CCIV dropped by 7% in early trade on Thursday.
- Investors had hoped for more news on Lucid merger.
- Merger talks may yet lead to something but longer timeframe.
Update February 4: Shares in CCIV continue to suffer in early trade on Thursday. Shares are currently trading at $27.87 down nearly 6%. CCIV investors were left dissapointed on Wednesday as the Wall Street Journal had dashed hopes of a quick merger with Lucid Motors.
NYSE:CCIV has finally slowed down after being one of the most popular SPAC targets for investors looking to get in on the ground floor of the up and coming Lucid Motors. That momentum came to a screeching halt on Wednesday as the stock dropped by 8.25% to close the trading session at $29.49. Shares made a slight recovery near the closing bell after dropping to $27.58 before some investors jumped in at the discounted price.
The catalyst for the drop in price was a Wall Street Journal report that the highly anticipated merger between Churchill Capital and upstart electric vehicle maker Lucid Motors is not at all imminent. Investors have been piling into the SPAC stock since early January, where the initial rumors of a merger with Lucid were reported. Lucid is widely viewed as a luxury electric vehicle brand that has a chance to disrupt industry leader Tesla’s (NASDAQ:TSLA) stranglehold on the market. With a manufacturing plant in Arizona nearly ready to start production of its Lucid Air sedan, many investors believed that CCIV would be a chance to get the next parabolic electric vehicle stock at a discount.
CCIV stock forecast
But is CCIV trading at a discount? It is currently one of the highest price SPAC stocks on the market – higher even than Chamath Palihapitiya’s IPOD, IPOE, and IPOF companies. The proposed Lucid merger has already been baked into the high price, so investors who want to get in may want to wait, as the stock should continue to decline the longer it goes without an announcement for a merger.
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.