CCIV - Why Churchill Capital IV Stock Is a Screaming Buy at $20
It's been a brutal couple of months for special-purpose acquisition companies (SPACs), which have been selling off broadly as investors shun speculative growth stocks with lofty valuations in favor of safer investments. The pullback has hit electric vehicle (EV) SPACs particularly hard, since the EV revolution remains in the early innings and much of the expected growth is in the distant future.
It didn't help that President Biden's infrastructure plan that will encourage EV adoption was a bit lacking in concrete details, creating more uncertainty and testing the patience of investors. The turmoil has created buying opportunities for long-term investors, particularly for the relatively more mature EV start-ups that have the greatest potential. Here's why Churchill Capital IV (NYSE: CCIV) , which is merging with Lucid Motors, is a screaming buy at $20.
Image source: Lucid Motors.
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Why Churchill Capital IV Stock Is a Screaming Buy at $20