CCIV - Why Shares of Churchill Capital IV Are Down Today
Shares of Churchill Capital IV (NYSE: CCIV) were trading lower on Wednesday. The special-purpose acquisition company (SPAC), which has been linked to prominent electric vehicle (EV) start-up Lucid Motors, fell after The Wall Street Journal reported that a deal with Lucid isn't imminent.
As of 2:45 p.m. EST today, Churchill's stock was down about 6.2% from Tuesday's closing price.
Shares of Churchill have surged more than 200% since Bloomberg reported on Jan. 11 that the SPAC was close to a deal to merge with Lucid, a start-up manufacturer of luxury EVs that is close to beginning production of its first model.
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Why Shares of Churchill Capital IV Are Down Today