CCIV - Is Churchill Capital Still a Buy?
Churchill Capital IV (NYSE: CCIV) has created quite a stir as shares have more than doubled in February. The bullish sentiment is based on ongoing rumors and headlines that the SPAC will merge with Lucid Motors, in the same manner that DraftKings and several other SPACs were taken public.
ith shares trading near highs, is Churchill Capital IV still worth a look?
The appeal here isn't in Churchill Capital IV. It's in Lucid Motors. Lucid's flagship car, the Lucid Air, is reportedly at the top of the pack in terms of performance, with a reported range of 519 miles per charge, and the ability to charge up 300 miles of range in 20 minutes. The company's CEO, Peter Rawlinson, is a former chief engineer for Tesla . He also worked at Lotus and Jaguar. The man knows the business of engineering cars. This has many looking at Lucid Motors as a potentially heavy competitor to Tesla.
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Is Churchill Capital Still a Buy?