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.

Stay up to speed with hot stocks' news!

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.

Author

Stocks Reporter

FXStreet

GBP/USD off highs, back to 1.3620

GBP/USD remains slightly on the defensive at the end of the week, receding to the low 1.3600s after hitting fresh tops past 1.3670 earlier in the day. Cable’s correction comes after two daily gains in a row and amid a tepid advance in the Greenback, while poor UK data also accompany the downside.

EUR/USD treads water below 1.1700

EUR/USD now trades with modest losses around 1.1670 following another unsuccessful atempt to advance past 1.1700 the figure in a convincing fashion. The pair’s decline follows a maginal rebound in the US Dollar as market participants continue to assess recent US data as well as developments from the US bond market.

Gold trims gains, recedes to the sub-$4,600 area

Gold rapidly leaves behind Thursday’s inconclusive price action and advances markedly on Friday, briefly surpassing the $4,600 mark per troy ounce to hit three-month peaks. Meanwhile, the precious metal’s solid performance comes despite marginal gains in the buck coupled with another day of rising US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflows

The cryptocurrency market remains bullish on Friday, led by Bitcoin’s surge above $77,000. Altcoins, including Ethereum and Ripple, mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.

Week ahead – Fed’s Jackson Hole and Nvidia earnings to dictate markets

Kevin Warsh to make his Jackson Hole debut amid confusing messaging. But a major hawkish surprise unlikely after bond market intervention. Nvidia earnings to also determine market direction as stock rally cools.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.