CCIV Stock Price: Lucid Motors – Churchill Capital IV edges lower despite bullish day for EVs
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NYSE:CCIV fell by 0.84% on Thursday, amidst a bullish rally from the broader markets.
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President Biden reaches a bipartisan deal that will see funding for electric vehicle infrastructure.
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Lucid rival Tesla makes an interesting announcement that helps its rivals.
NYSE:CCIV failed to extend its gains from Wednesday, despite growth stocks and electric vehicles climbing higher on Thursday. Shares of CCIV fell by 0.84% to close the trading session at $24.85 after reaching as high as $26.28 during intraday trading. If the SEC filings were accurate, CCIV is now exactly one month out from merging with Lucid Motors, which will trade under the ticker symbol LCID on the NASDAQ exchange.
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Some positive news for electric vehicle companies, especially those who are based in the United States. President Biden reached an agreement with bipartisan support for a new $1.2 trillion USD spending plan that will see nearly half of that amount spent on transportation infrastructure. Of course, with the democratic green wave policies coming into effect, electric vehicle companies will see some of this spending dedicated to developing the charging infrastructure around the country. Lucid and Tesla (NASDAQ:TSLA) certainly stand to benefit in the U.S., along with legacy automakers like Ford (NYSE:F) and General Motors (NYSE:GM) which are building up their own electric vehicle lineups.
CCIV stock news
In a related story, Tesla came out and announced that it would eventually be allowing its rivals to utilize its vast network of charging stations. Most importantly, Tesla’s superchargers will be open to all of its rivals as of 2022, but it is unclear if all 25,000 chargers at over 2,700 global charging stations would be available for use.
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