CCIV Stock Price: Lucid Motors – Churchill Capital IV extends four-day losing streak

  • NYSE:CCIV is two weeks out from the shareholder vote and proposed merger date.
  • Lucid has Tesla in its crosshairs, but the industry leader keeps on delivering.
  • Major automotive market Germany hits 1 million electric vehicles on its roads.

Update July 8: Churchill Capital Corp IV (NYSE: CCIV) extended its four-day losing streak and fell as low as $24.80 before reversing losses to regain $25.50, still finished 3.26% lower on Wednesday. Investors are taking profits off the table after the recent rally in CCIV, ahead of the July merger with Lucid motors. Dovish FOMC minutes lifted the Wall Street indices but failed to offer any respite to CCIV buyers, as the stock closed below the key $26 support.


NYSE:CCIV stumbled into the July 4th long weekend as shares of the EV SPAC stalled off of its recent bullish run. CCIV and Lucid are two weeks out from their proposed merger which still needs to go through a shareholder vote, although at this point that is merely a formality. Lucid should begin trading on the NASDAQ exchange on July 23rd under the ticker LCID, as the much anticipated debut of the so-called ‘Tesla killer’ will certainly be a highly publicized one. Electric vehicles have been one of the most popular secular trends for investors over the past couple of years, so Lucid will definitely be on investor watchlists come the end of the month.

Stay up to speed with hot stocks' news!

While CEO Peter Rawlinson continues to take aim at Lucid’s main rival Tesla (NASDAQ:TSLA), the current EV industry leader keeps reporting record delivery numbers in each sequential quarter. Tesla most recently announced it had hit the 200,000 delivery mark for the first time in its history, a number that Lucid is seemingly years from attaining. Lucid should be more concerned with the sales of the premium Model S and Model X vehicles, as those will be the primary measuring sticks that the Lucid Air and Lucid Gravity will be compared against. 

CCIV stock news

Germany, the predominant automotive market in Europe, has officially announced that it has 1 million electric vehicles on its roads as of June 2021. The country was aiming to hit this goal by December of 2020, but of course the COVID-19 pandemic derailed much of those plans. Still, Germany managed to hit the mark just six months after its initial target, with Tesla and Volkswagen making up a majority of those sales. 

Previous updates

Update July 7: Churchill Capital Corp IV (NYSE: CCIV) ended Wednesday down 3.26% at $25.52, despite the better performance of US indexes. Wall Street managed to post modest daily gains, helped by the US Federal Reserve's Meeting Minutes, which showed that policymakers are still determined to support the economy with quantitative easing, despite growing concerns about higher inflation. The NYSE Composite Index added 25.95 points in a quiet trading journey.

Update: Churchill Capital Corp IV (NYSE: CCIV) has kicked off Wednesday's trading session with an upswing of over 1.5%, eyeing the $27 level. If shares of the company about to merge with Lucid Motors remains intact, it would break three consecutive sessions of falls. Overall, CCIV – soon to be changed to LCID – looks perky ahead of the official merger on July 23. Critical resistance awaits at $28.82 and support is at $26. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD loses traction, declines to 1.1620 area on renewed USD strength

EUR/USD reversed its direction after climbing above 1.1660 and started to push lower toward 1.1600. Renewed USD strength alongside dismal German data and growth outlook seems to be weighing on the pair on Monday.


GBP/USD drops towards 1.3750 as dollar rebounds

GBP/USD is falling towards 1.3750, undermined by the US dollar bounce,  as the Treasury yields recover ground. UK's Frost hints at compromise on Northern Ireland’s post-Brexit trade rules. BOE-speak, China news in focus. 


XAU/USD looks north, with eyes on $1814 and $1820

Gold price eyes a sustained move above $1800 amid USD weakness. Market sentiment remains mixed ahead of a critical week.

Gold News

Crypto markets coil up for an explosive move

Bitcoin price correction seems to be holding above $60,000, but fear of an extended pullback persists. Ethereum price coils up between $3,900 and $4,200, preventing a retracement. Ripple price consolidates in a bullish pennant, suggesting a 26% ascent is likely.

Read more

Wall Street Week Ahead: Huge week of earnings ahead AAPL, MSFT, GOOGL, AMZN, FB

Equity markets remain elevated with more all-time highs on Thursday for the broader S&P 500 while the Dow registered new highs on Wednesday and Thursday. So far late into Friday's session, the markets are seeing some profit-taking to end a solid week.

Read more