CCIV Stock Price: Lucid Motors + Churchill Capital IV extends gains after CEO clears the air

NYSE:CCIV added 2.06% on Monday as the broader markets remained unsettled to start the week.
Lucid CEO Peter Rawlinson addresses investor concerns and updates the state of the company.
CCIV rival Tesla continues to fall as Elon Musk gains the ire of crypto investors.

Stocks Reporter FXStreet

NYSE:CCIV investors have finally seen some light at the end of the tunnel as the SPAC IPO stock has finally reversed its downward trend and put together consecutive green days. On Monday, CCIV added 2.06% to close the first trading session of the week at $18.31, as the stock found support and bounced back up towards its 200-day moving average. CCIV may be rising as a sympathy play to the current #AMCSqueeze hashtag that is trending across social media. Redditors are attempting once again to initiate a short squeeze of AMC, and many of the meme stocks were on the rise Monday in what could be a related play.

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Over the weekend Lucid CEO Peter Rawlinson addressed some of the questions that many investors have had over the impending merger between CCIV and Lucid Motors. Confirmed reservations of the Lucid Air sedan have topped 9,000, which equates to roughly $800 million in potential sales revenue when the vehicles are ready to roll out. Lucid is also introducing ESS or Energy Storage Systems, which is a technology similar to what rival Tesla (NASDAQ:TSLA) has for its batteries. Lucid is currently testing its batteries to be integrated with solar panels at its Arizona headquarters.

CCIV stock news

Speaking of Tesla, CEO Elon Musk has once again been at the center of controversy on Twitter as he continued to speak out against Bitcoin over the weekend. Since Musk initially began to back away from the benchmark crypto, Bitcoin has fallen nearly 20% and Tesla shares have dropped nearly 10%, as the controversial CEO has sparked anger from both groups of investors. The only group of investors that seem to be happy? Dogecoin holders, which Musk has repeatedly backed as a legitimate future currency.

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