- NYSE: CCIV shares still flatlining as further news needed.
- Churchill Capital Corp IV's stock is down on Monday.
- EV sector is the future but who will survive consolidation as the big boys enter.
Update April 14: Churchill Capital Corp IV (NYSE: CCIV) has kicked off Wednesday's trading session with a dip below the $22 level. Shares of the blank-chek company about to merge with Lucid Motors continues trading in a limited range, looking for a new direction. See more details about the firm's technical and fundamental moves below.
Too high? Too low? Churchill Capital Corp IV (NYSE: CCIV) has been whipsawed by over-enthusiasm over the merger with Lucid Motors and the resulting hangover. Since its frantic action in late February, selling pressure has been substantial. Are shares now ready to rise?
While the merger has yet to be completed, those examining Lucid Motors' business seem confident. After an endorsement by CNBC's Jim Cramer, the focus on the EV-maker's market has been positive for investors.
The Arizona-based luxury carmaker is focused on the high end of the market, shy away from broader market Tesla is targeting. That differentiation may allow Lucid to have higher margins and increase its cash flow faster than CEO Peter Rawlinson's former employer.
Americans are returning to the roads this summer, as the vaccination campaign allows a quick reopening. Some will want new cars, preferably electric ones, and having a different one is better.
The latest from the immunization front is that President Joe Biden wants all Americans to be offered vaccines by April 19, bringing forward the previous goal of May 1.
CCIV stock forecast
After standing still after the IPO, CCIV shares shot higher amid reports of a merger with Lucid Motors. They then shot higher only to return back to the previous range. This band is considerably broad, and Monday's closing price of $23 is at the lower end. The mid-March peak of $31.10 serves as an upside target while the recent trough of $21.50 provides support.
Update April 14: Churchill Capital Corp IV (NYSE: CCIV) has risen by 0.27% to close at $22.09 on Tuesday and is set to extend its gains on Wednesday with an increase of 0.91% to $22.28. Shares of the company about to SPAC-merge with Ludic Motors is gaining alongside broader equity markets. Tame US inflation has pushed investors toward stocks. It seems that those focusing on the EV-maker's prospects remain on the fence after CCIV shares experienced wild volatility earlier this year.
Update 2 April 12: CCIV shares remain flat to lower over the last few sessions as volatility flees retail favorites. Now that things are reopening, stay at home traders are not staying at home! The results are seen across meme stocks, all of whom are struggling for gains recently.
Update April 12: Churchill Capital Corp IV (NYSE: CCIV) has ended the week on a weak note, sliding some 0.82% to $22.97. Will the loss of the round $23 affect traders? That is still to be seen. Zooming out from the day-to-day price action, shares of the blank-check company that is about to merge with Lucid Motors have been fluctuating in a range since late March. It is essential to note that volatility in broader markets remains limited, yet some expect a storm to come, perhaps if expectations for a rate hike increase. For those focused on the company, news related to car sales may trigger action.
Update April 9: Chip shortage issues? That seems to be forgotten as markets cheer the Federal Reserve's willingness to continue pumping funds and support the economy throughout the recovery. Churchill Capital Corp IV (NYSE: CCIV) has been benefiting from Fed Chair Jerome Powell's comments, closing Thursday's trading session at $23.16, an increase of 1.49%. Another upswing is on the cards on Friday – to $23.22 according to Friday's premarket data.
Update April 8: The EV sector is benefiting from a bounce back – and Lucid Motors sees fresh buying. Churchill Capital Corp IV (NYSE: CCIV) is on the rise on Thursday and has recaptured the $23 level. At the time of writing, shares of the blank-check company about to merge with Lucid are up nearly 2%, changing hands at $23.29. It seems that concerns about a global ship shortage have subsided.
Update April 8: Shares of carmakers have been on the back foot due to manufacturing concerns – a shortage of chips is weighing on the industry – and Lucid Motors is no different. Shares of Churchill Capital Corp IV (NYSE: CCIV) which is about to complete a SPAC merger with Lucid, fell by 6.70% and closed at $22.82. That is worst closing level in April, but remain above the March 29 trough of $21.35. Thursday's premarket trading is pointing to a bounce above $23.14.
Update April 7: Churchill Capital Corp IV (NYSE: CCIV) has kicked off Wednesday's session with a minor decline of 16 cents or 0.65% to just above $24. Shares of the blank check company that is on course to merge with Lucid Motors is consolidating previous gains. Bargain-seekers are finding it more attractive after the boom and bust. Broader markets are stable.
Update April 7: Churchill Capital Corp IV (NYSE: CCIV) has jumped by 6.35% on Tuesday, hitting the highest since March 23. The break above the recent range is a result of fresh buying interest, perhaps amid expectations for Lucid Motors to garner rich electric vehicle buyers in a booming economy. Better prospects for the global economy amid a quicker American vaccination campaign.
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