CCIV - Here's Why Churchill Capital IV Stock Jumped Today
Churchill Capital IV (NYSE: CCIV) has been one of the most talked-about special purpose acquisition companies (SPACs), and had an incredible run prior to having a deal with any operating business. After it finally announced its long-rumored merger with luxury electric-car maker Lucid Motors, the stock tumbled from its more than 450% gains in 2021.
Shares were almost cut in half after the details of the agreement were announced, but are bouncing again Friday after a Dave Portnoy Twitter (NYSE: TWTR) comment has it in the spotlight. As of 9:45 a.m. EST today, shares of Churchill Capital gained 13.2%.
Portnoy, the celebrity founder of Barstool Sports, put out a tweet today seemingly egging on the retail trading crowd. The message started with: " I had a billion people tell me [Churchill Capital IV] was the go button today," before warning followers, "If you can't spot the sucker in the first half-hour at the table, then you are the sucker."
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Here's Why Churchill Capital IV Stock Jumped Today