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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AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold: Gains remain capped by $4,400

Gold regains composure and trades with decent gains on Friday, managing to refocus attention on the $4,440 mark per ounce troy. Therefore, the precious metal reverses Thursday’s decline as the US Dollar alternates gains with losses at the end of the week.

Ripple Price Forecast: XRP extends decline as returning ETF inflows fail to lift outlook

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.

Weekly focus – The hawks set the tone

Risky assets came under pressure this week as energy prices kept creeping higher and the ECB surprised the markets with a hawkish tone. The price of Brent crude touched USD 110 per barrel on Thursday night, highest since mid-May, as news emerged that the Yemeni Houthis had reached control of key port cities and islands near the Bab el-Mandeb strait.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.