Full Answer
Why is Churchill capital stock down 9% Wednesday?
Feb 23, 2021 · Once the rumors broke and Churchill Capital IV's stock skyrocketed, Lucid had the upper hand in the negotiations. Investors have been …
Why did Churchill Capital Corp IV buy lucid?
Will Churchill capital (CCIV) rally back to $10?
What does the Churchill capital IV SPAC merger mean for investors?
Why did Churchill's stock drop?
Churchill Capital shares plunged in February when the SPAC announced its merger with Lucid Motors, as it became clear that investors had bid CCIV shares to unreasonable levels, up more than 400% from a starting point of $10.Apr 6, 2021
What happened to my Churchill capital stock?
As a result of the merger, Churchill Capital and Lucid Motors will be renamed Lucid Group. In addition to this, shares of CCIV stock will switch over to the LCID stock ticker.Jul 23, 2021
What is Churchill Capital CCIV?
and NEW YORK, July 23, 2021 /PRNewswire/ -- Churchill Capital Corp IV ("Churchill IV" or "CCIV") (NYSE: CCIV), a publicly traded special purpose acquisition company, and Lucid Motors today announced the completion of their business combination, taking public a company that is setting new standards with its advanced ...Jul 26, 2021
Why is lucid falling?
Summary. Lucid stock fell over -30% year-to-date in 2022; its Q4 2021 revenue and 2022 production guidance didn't meet market expectations, and investors seem to prefer established automakers over startups now.Mar 29, 2022
Who owns Churchill Capital?
Michael KleinOur founder, Michael Klein, is also the founder and managing partner of M. Klein and Company, which he founded in 2012.
What will CCIV new ticker be?
Churchill Capital IV shareholders have voted in favor of merging with Lucid. The stock will change its ticker symbol to "LCID" on Monday.Jul 24, 2021
Is CCIV stock a good buy?
I personally would rate CCIV a hold for most, and a potential buy for those with some appetite for risk who are looking for an investment with a strong return outlook in a bullish scenario.May 17, 2021
Is CCIV a good investment?
If you are looking at CCIV stock as a long-term investment, there will probably be a more attractive entry point. This could happen between now and the completion of the deal. It is certainly a top EV stock to watch from now on, but not quite the price that investors are paying right now.Feb 23, 2021
Why is CCIV stock going up today?
CCIV stock is getting a boost as investors salivate at the potential valuation of a special purpose acquisition company (SPAC) merger with electric vehicle (EV) maker Lucid Motors.Jun 2, 2021
What is wrong with Lucid stock?
Lucid Motors reported fourth-quarter and full-year results at the start of the week, which unfortunately caused the stock to drop 15% after earnings were announced. The stock of Lucid Motors fell sharply as a result of the electric-vehicle company lowering its production target for 2022.Mar 3, 2022
Is Lucid Motors better than Tesla?
The company is hyping up the car's smooth ride, sleek design, and impressive technology. Their batteries have the same, maybe better quality than Teslas and will be capable of 4.5 miles per kWh, lasting longer than Tesla's 4 miles per kWh. Lucid Air sedans will roll out sometime in 2021, so stay tuned.
Has Lucid sold any cars?
The Company's Q4 revenue was $26.4 million , including $21.3 million from initial deliveries of its innovative Lucid Air Dream Edition, which began in October. Lucid delivered 125 cars to customers in the fourth quarter, with total production exceeding 400 vehicles to date and over 300 deliveries to customers.Feb 28, 2022
The rollercoaster ride continues for shares of this SPAC rumored to be in talks to merge with a promising electric vehicle maker
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
What happened
Shares of special purpose acquisition company (SPAC) Churchill Capital IV ( NYSE:CCIV) started a sharp increase on Jan. 11 when rumors that it was in talks to merge with luxury electric vehicle (EV) maker Lucid Motors began to spread.
So what
In addition to the merger rumor, news that Lucid was in talks with Saudi Arabia's sovereign wealth fund to build a new EV factory in the kingdom spurred strong gains in Churchill Capital shares earlier this week. The Saudi fund is already a large investor in Lucid Motors.
Now what
Bloomberg originally reported the rumor of talks between Lucid Motors and the SPAC formed by Wall Street veteran Michael Klein. The report indicated a transaction that could be valued at up to $15 billion. But the transaction doesn't necessarily make sense for Lucid.
CCIV stock news
Some great news for Lucid and its investors after a new vehicle registration data report revealed that the U.S. saw a 95% increase in electric vehicle purchases from January to April of this year. Tesla had an overwhelming number of those, although the industry leader did see its market share shrink as more competitors came to market.
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