CCIV - Why Lucid Motors Is Moving Churchill Capital IV Stock Today
Churchill Capital IV (NYSE: CCIV) stock has been driven by electric vehicle (EV) maker Lucid Motors since early January when a Bloomberg report said the special purpose acquisition company (SPAC) was close to merging with Lucid. Churchill Capital IV stock has risen more than 300% since then.
Today, shares of Churchill Capital were up another 9% before settling back to a 4% gain as of 11:15 a.m. EST. This comes a day after shares soared 32%.
The most recent surge comes after Reuters reported that a deal valuing the combined company at $12 billion is nearing. Churchill Capital IV was formed by former Citigroup banker and Wall Street veteran Michael Klein. Reuters reported yesterday that Klein launched a new financing round to raise more than $1 billion for a deal with Lucid.
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Why Lucid Motors Is Moving Churchill Capital IV Stock Today