- NYSE:CCIV dipped by 0.55% alongside a mostly positive day for the broader markets.
- Electric vehicles stocks are charging back up but Lucid is being left behind.
- More details emerge from Ford, as the automaker steals Lucid’s thunder during its User Experience Event.
NYSE:CCIV continues to see resistance at its 50-day and 200-day moving averages, and once again failed to breach the $20.00 price barrier. On Thursday, the pending SPAC IPO stock fell by 0.55% to close the trading day at $19.88. Lucid has been testing investor patience of late, especially considering many are holding the bag, as they say, from when the stock went parabolic in February. With no official merger date announced, investors may have to deal with a longer consolidation period for the stock until much later in 2021, when the merger is believed to be taking place.
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The electric vehicle sector has seen a bullish reversal after the sector correction over the last couple of months. On Thursday, shares of Tesla (NASDAQ:TSLA), NIO (NYSE:NIO), XPeng (NYSE:XPEV), and even Ford (NYSE:F) and GM (NYSE:GM), were all up sharply. While in the past Tesla has dictated movement for these other stocks, the industry leader has been trading erratically of late, and many of these companies have been moving due to their own catalysts.
CCIV stock news
Lucid is still reeling after its User Experience Event was overshadowed by Ford’s own investor event on the same day. Ford’s robust lineup is starting to form as the Mustang Mach-E and Ford F-150 Lightning have stolen the spotlight in recent weeks. Ford also confirmed an electric version of its popular Explorer SUV, as well as hinting at an electric version of the recently resurrected Bronco. Ford is dedicated $30 billion to rebuild its brand to a near fully electric company by 2025.
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