CCIV Stock Price: Lucid Motors – Churchill Capital IV surges on tease of an impending merger

NYSE:CCIV gained 5.84% on Tuesday as growth stocks continued to fight back from the recent correction.
CCIV sends a cryptic tweet that has investors buzzing about the upcoming merger with Lucid Motors.
Lucid is heavily promoting its flagship vehicle ahead of its appearance at a major upcoming auto show.

Stocks Reporter FXStreet

NYSE:CCIV has seen momentum swing back in its favor, as the stock extended its gains for the fourth consecutive trading session. On Tuesday, CCIV added 5.84% to close the trading day at $19.38, as the stock begins to retrace towards its 200-day moving average. Shares have now gained 12% since Friday, and are seeing a nice bullish reversal as noteworthy announcements continue to emerge from Lucid Motors ahead of its impending merger.

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One of those announcements came on Tuesday in the form of a tweet from the official Twitter account of Lucid Motors. In the tweet a short video plays in which the letters CCIV morph into the letters LCID, which is expected to be Lucid’s ticker symbol once the merger is completed. The video ends with the words ‘Arriving soon on the NASDAQ’, which was more than enough information to get investors excited and send the stock soaring. CCIV continues to be one of the most anticipated SPAC mergers on the market today, even during a time where many of them have been sold off back down to the NAV price as the SEC looks to add more regulations in the future.

CCIV stock news

Another tweet from Lucid confirmed the appearance of its flagship vehicle the Lucid Air at the upcoming Amelia Concours auto show from May 20-23. It will be one of the closest looks investors will get at the fully functional vehicle, and is just another indication that Lucid is on track to have its cars on the road later this year.

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Stocks Reporter

FXStreet

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