CCIV - Why Churchill Capital IV Stock Soared This Week
Shares of Churchill Capital IV (NYSE: CCIV) enjoyed a strong rally this week, gaining as much as 18% week to date by Thursday morning. Churchill Capital IV is the special purpose acquisition company (SPAC) that is taking Lucid Motors public. As of 2 p.m. EDT on Thursday, the stock was up 9% for the week.
Investor sentiment around electric vehicle (EV) stocks has been weak in recent months, much like it has for other speculative growth companies. Investors appear to be warming back up to EV stocks, as many other companies in the sector have also climbed this week. Ahead of the launch of the Lucid Air sedan, the company has been ramping up its media appearances to raise awareness of the flagship vehicle and potentially contribute to new reservations.
Image source: Lucid Motors.
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Why Churchill Capital IV Stock Soared This Week