CCIV stock is dropping due to a market sell-off in small-cap and growth stocks, as well as bearish sentiment building ahead of the shareholder merger vote. The significant fall has pushed CCIV below its 50- and 200-day moving averages, though it now looks to be much more reasonably valued. What happened to CCIV?
Full Answer
Why is CCIV stock going down?
Nov 07, 2021 · Why is CCIV stock dropping? CCIV stock is dropping due to a market sell-off in small-cap and growth stocks , as well as bearish sentiment building ahead of the shareholder merger vote. The significant fall has pushed CCIV below its 50- and 200-day moving averages, though it now looks to be much more reasonably valued.
Will CCIV stock rise after its merger with Lucid Motors?
Feb 23, 2021 · Here's why investors may be disappointed in the deal. ... the PIPE investors are buying in at $15 per share due to the meteoric rise in the stock over the past month. ... CCIV *Average returns of ...
Why is lucid stock dropping?
Mar 03, 2021 · Churchill Capital IV (NYSE: CCIV) stock dropped 12% Wednesday, and still traded almost 11% below Tuesday's closing price as of 2:45 p.m. EST. After surging for weeks on anticipation, shares of the ...
Is CCIV stock A multibagger in 2021 and 2025?
Jan 27, 2021 · The daily swings in the stock continue today, but to the downside. As of 10:40 a.m. EST Wednesday, shares in Churchill Capital were down 9%, …
What happened to stock CCIV?
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
Is CCIV a good stock investment?
That said, since the future of cars is EV, Churchill Capital (CCIV) is a good long-term investment with its Lucid Motors merger. Since hitting a record high of $64, CCIV shares have plummeted approximately 30%, and they are trading at just above $20. It is safe to say that this is a superb entry point.May 24, 2021
Why did CCIV drop after merger?
Why CCIV Stock Fell Ostensibly, that was to benefit PIPE (private investment in public equity) who invested alongside the SPAC merger at a price of $15 per share. Short-sellers, as always in this market, have been blamed.Mar 8, 2021
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
Why is CCIV going up?
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. The goal is for the SPAC to take Lucid Motors public with a reverse merger.Jun 2, 2021
What will lucid stock be worth in 5 years?
The LCID (“LCID” ) future stock price will be 119.160 USD in 5 years. The long-term earning potential is +7.44% in one year.Mar 16, 2022
Is LCID same as CCIV?
CCIV is now officially LCID as the Lucid Motors transaction has closed and begins trading under its new ticker today. All 7 SPAC merger votes are at prices that make more big redemptions possible.Jul 26, 2021
Did CCIV merge with Lucid Motors?
Lucid Group, the company formed after Lucid Motors' July 23 merger with Churchill Capital Corp IV (CCIV), has become a publicly listed company.Jul 27, 2021
How much of Lucid will CCIV own?
Factoring in for the 19.1% ownership interest in Lucid by CCIV shareholders, Lucid is coming to market at an implied valuation of $42 billion. At this price, Lucid would trade at the same market capitalization as Tesla in 2017.Jun 11, 2021
Is Churchill Capital a SPAC?
Churchill Capital has been a popular SPAC stock with retail investors, but it is likely less so after falling 63% from its mid-February peak of $64.84. The SPAC was often a top-mentioned name on Reddit's Wall Street Bets forum.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
How much money does Churchill Capital IV have?
The transaction will include Churchill Capital IV's $2.1 billion in cash, plus a $2.5 billion PIPE (private investment in public equity) anchored by Saudi Arabia's Public Investment Fund (PIF) -- which is currently Lucid's majority shareholder -- and other familiar institutional heavyweights like BlackRock and Fidelity.
Why does SPAC prefer a lower valuation?
The SPAC prefers a lower valuation, since that allows it to acquire a larger ownership stake in the target company with the money at its disposal.
Who is Evan from Motley Fool?
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
Is Churchill Capital IV merging with Lucid?
For several weeks, rumors swirled that Churchill Capital IV ( NYSE:CCIV) was preparing to merge with Lucid Motors. Lucid, one of the hottest electric vehicle (EV) start-ups, is about to begin delivering its luxury sedan, the Lucid Air, within a few months. At long last, the companies confirmed the deal last night, ...
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.
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