- NYSE:CCIV tumbled by 8.18% amidst a broader market sell off for small-cap and growth stocks.
- Lucid Motors announces its Lucid Care service program for its drivers.
- U.S. electric vehicle sales were up 95% during the first quarter of 2021.
NYSE:CCIV may have fallen into bearish territory on Wednesday, as the broader markets could not buck OPEX week, and shrugged off the Fed maintaining its monetary policy course. Shares of CCIV plummeted by 8.18% and closed the tumultuous trading session at $23.79. The steep decline pushes CCIV’s stock beneath both the 50-day and 200-day moving averages, as bearish sentiment begins to pour in ahead of the shareholder merger vote on July 22nd, and the proposed merger the following day on July 23rd. Shares of CCIV are now down 13% since the start of the week, as the company heads towards its crucial last week before merging with Lucid Motors.
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More news from Lucid Motors after CEO Peter Rawlinson held a shareholder call on Tuesday after the closing bell. The electric vehicle maker unveiled its Lucid Care program, which will provide drivers with support 24 hours per day, seven days per week, and 365 days per year. Lucid will provide on demand servicing and support no matter where you are, and its trained technicians can come provide routine service to you at your home or office. Like Tesla (NASDAQ:TSLA), Lucid is also providing over the air software upgrades to provide the vehicles with the latest security and performance updates.
CCIV stock news
Some great news for Lucid and its investors after a new vehicle registration data report revealed that the U.S. saw a 95% increase in electric vehicle purchases from January to April of this year. Tesla had an overwhelming number of those, although the industry leader did see its market share shrink as more competitors came to market. Lucid is hoping to capture more of that market from Tesla when vehicles begin to hit roads later this year.
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