CCIV Stock Price: Lucid Motors – Churchill Capital IV continues slide amidst growth stock sell off

NYSE:CCIV fell a further 2.19% as the major indices closed the day in the red.
The EV Sector decline continues as the delta variant fuels investor concerns.
A major Chinese automaker makes a strong statement about Tesla.

NYSE:CCIV continued to show signs of trepidation from investors ahead of the July 22nd shareholder vote. The stock extended its slide on Thursday as shares of CCIV fell by 2.19% to close the day at $24.96. CCIV remains trading above its 50-day and 200-day moving averages, so the overall sentiment remains bullish ahead of its merger, but its current losing streak may cause some investors to think twice about starting a position.

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The broader electric vehicle sector continued to decline as well on Thursday, as the rapid spread of the delta variant of COVID-19 continues to hit regions around the world. Tesla (NASDAQ:TSLA) was the lone gainer during the session as the industry leader reported impressive delivery numbers in China. Unfortunately for Chinese EV automakers, the continued crackdown on U.S. traded Chinese companies has beaten their stocks down. Nio (NYSE:NIO) fell by 0.96%, XPeng (NYSE:XPEV) dropped by 3.45%, and Li Auto (NASDAQ:LI) dipped by 0.75% during the day.

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Speaking of XPeng, the Chinese automaker listed on the Hong Kong stock exchange yesterday, although shares finished the first day of trading mostly flat. On Thursday, XPeng President Brian Gu came out and said that he believes that the Chinese EV makers are fast catching up to Tesla in terms of product and technology. While Gu has always been quick to compliment Tesla and praise its commanding share of China’s lucrative auto market, his statements may speak to Tesla losing some of its luster compared to the domestic brands.

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