TSLA - Churchill Capital IV: Even After The Sell-Off The Math Looks Shaky

• CCIV stock is down 43% in early trading Tuesday following the official announcement of a merger with Lucid.
• Even at $35, Lucid still is valued at roughly $52 billion, after it raised capital at a weighted valuation below $15 billion.
• The story still can work long-term, but CCIV looks like a bubble that as yet may not have completely popped.

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